Kazakhstan banks to open accounts for registered cryptobirzh

Companies that provide trading services for digital assets will be able to open accounts in Kazakhstan’s banks, local media reported, citing the country’s crypto industry association. The service must allow Cossacks to legally invest in cryptocurrencies and cash in their profits.

Kryptobirzham offers banking services in Kazakhstan
Kazakhstan banks will be allowed to open accounts for cryptocurrency exchanges registered with the Astana International Financial Center (MFCA), Kazakhstan and the National Association of blockchain and data center industry, as cited by local news portal Khabar 24. The move is part of a pilot project with second-rate banks that is expected to last a year.

International financial center”Astana”.
Potential crypto investors must have an account at a participating banking institution to trade on one of the exchanges. This will allow them to transfer fiat money, buy digital money and carry out various other activities in the Kazakh crypto market. Income from profitable investments can then be deposited into personal accounts.

The government in Nur Sultan plans to use the project to assess the risks and benefits of digital assets. The circulation of cryptocurrencies is still banned in the Central Asian republic, but industry observers hope the restrictions could be eased or even lifted once the project is successfully completed.

Banks in Kazakhstan benefit from crypto revenues
Experts point to several reasons for reviewing official policies on decentralized digital money. Sergey Putra, who coordinates relations with the government at the Kazakhstan blockchain Association, noted that the global crypto economy has a sizable volume of financing, billions of dollars of daily revenue. Then you noticed:

Even if Kazakhstan gets a percentage share, even one percent of this income, this is serious money

Join the Discussion

  • BrokerEUR/USD
    City Index 0.5pips (fixed) margin: 3.33%
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top