The central bank of Kazakhstan proposes to restrict the exchange and the mining of crypto-currencies

The central bank of Kazakhstan has submitted proposals to the government to restrict certain activities related to crypto-currencies. For Kazakhstan, this is a whole new step after the announcement of its intention to create its own crypto-currency.

The proposals of the central Bank of Kazakhstan

The central Bank of Kazakhstan has proposed to restrict certain activities related to the crypto-currency in the country. The president of the central bank, Daniyar Akishev, said Wednesday during a press conference in Astana that it was ” to protect the public against speculative risks. “”The higher volatility of the value of crypto-currencies in the short term gives the owner a chance to make money on speculative transactions,” said Akishev. And to add : “But, in the future, this could result in significant damage caused by the loss of funds on the part of citizens. “

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Amendment of the legislation

In addition, Akishev said on Wednesday that the bank and the government ” jointly develop an approach concerning the issuance and circulation of crypto-currencies. “According to him, a complexity lies in the characteristics of crypto-currencies,” which are supra-national character, and are not the obligation or the guarantee of someone, or even of the State. “

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Is it possible to prohibit the mining of crypto-currencies in Kazakhstan ?

Following the statements by the president, experts have expressed their position concerning the possibility of a ban on the mining of crypto-currencies in Kazakhstan. They declared, almost unanimously, that the central Bank of Kazakhstan would propose to restrict the exchange and mining of crypto-currencies, which is virtually impossible. But they also agreed that regulatory measures should be introduced. Some financial, such as Eset Loot, have stated that the mining itself was not a risk to a country. Loot has noted that the mining is not prohibited by law currently and that each person was free to do what he wanted

Source : News.Bitcoin