Cryptocurrencies cannot be used to pay for goods and services in Kazakhstan, according to Madina Abylkassymova, head of the Agency for Regulation and Development of the Financial Market, who spoke at a recent parliamentary hearing.
Her comments came as Kazakhstan’s Senate reviewed a new law on banks and banking activities that introduces formal regulation of digital financial assets, including cryptocurrencies.
Crypto allowed for investment, not spending
«For the first time in Kazakhstan, we will allow the creation of cryptocurrency exchange points, which will be regulated by the National Bank,» Abylkassymova said. «The use...