Kazakhstan’s Big Bet on a Full-Stack Crypto Ecosystem
2025-06-30 15:55:23
Main Idea
Kazakhstan is advancing its crypto ecosystem by exploring a state crypto-reserve and implementing regulations to enhance legitimacy and reduce illegal activities.
Key Points
1. The National Bank of Kazakhstan (NBK) is studying the creation of a state crypto-reserve, potentially under a central bank affiliate.
2. Kazakhstan has shut down over 36 unlicensed crypto exchanges as part of its regulatory efforts.
3. The country is working on anti-money laundering (AML), tax regulations, and crypto-to-fiat licensing under NBK.
4. A pilot program has been launched where banks link Kazakhstan’s currency in real time to support crypto transactions.
5. The development follows a $15 billion crypto outflow due to inadequate regulations.
Description
The reserve may include confiscated assets or those mined by state-linked entities Kazakhstan has been on the move to regulate the crypto ecosystem, where over 36 unlicensed exchanges were shut down recently The country’s central bank launched a pilot where banks link retail crypto wallets to payment cards The National Bank of Kazakhstan (NBK) just announced it’s studying the creation of a state crypto-reserve, possibly housed under a central bank affiliate. Reports suggest that it will adopt a ...
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