The National Bank of Kazakhstan wants to ban cryptocurrency trading and mining in the European nation, its chairman said.
To that end, he told the Russian government news site, he wants to ban all crypto exchanges and prevent residents from converting the nation’s fiat currency into any form of cryptocurrency.
In addition, he said he wants to ban cryptocurrency mining within Kazakhstan’s borders, telling Sputnik:
The bank – and other government agencies – believe that cryptocurrencies are “an ideal instrument for money laundering and tax evasion,” he said.
Despite the chairman’s words, it does not appear that there are any regulations, laws or bills aimed at curbing the use of cryptocurrencies in Kazakhstan at present.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.