KAZAKHSTAN's KAZAKHSTAN Kassym-Jomart Tokayev called for urgent expansion of national cryptographic infrastructure during the government meeting.
“The order to use cryptocurrencies and other digital assets has appeared in the financial sector.” President Tokaev said on January 28, 2025.
“The development of artificial intelligence is becoming a basic factor, and in this field, competition among major technical capabilities is intensifying,” he added. “”In this situation, a clear behavioral strategy is required to overcome the serious issues of the new era. “
KAZAKHSTAN expands the encryption infrastructure!
President Tokaev is promoting urgent legal reforms to support digital assets.
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Kazakhstan appeared as an important player in the cryptocurrency industry, especially in mining.
Kazakhstan quickly became the second largest bitcoin mining hub in the world. It accounts for almost 18 % of the peak of bitcoin's total hash rate. Power costs and surplus energy from coal -fired power plants attracted mining workers around the world.
Despite these progress, only about 5 % of Kazakhstan's cryptographic investors are currently using regulated platforms such as Galaxy Digital, Skybridge Digital Finance, and SwifteX.
The majority of Tokaev is active in what is described as a “gray zone,” and is at risk related to untrained markets.
To deal with this issue, TOKAYEV emphasized the need to develop a robust legal framework that promotes widespread legal participation in the cryptographic ecosystem.
In 2024, the cryptographic regulation was tightened, and Kazakh closed 36 encryption exchange.
Kazakhstan has recently implemented more strict regulations on cryptocation through 2024.
According to the government's website, 36 illegal encrypted exchanges were closed in 2024. The total sales of 60 billion Tenge have been destroyed. In addition, $ 4.8 million (approximately 2.5 billion tengu) assets were frozen and confiscated.
According to the government, “Such entities (illegal encryption exchange) do not identify clients and do not specify suspicious transactions, so their services are often used by cyber scammers and drug traffickers.”
To utilize the growing crypto industry, Kazakhstan has introduced a tax framework for miners.
However, many operators' compliance violations have sustained execution issues.
Exploration: Crystal regulation of Kazakhstan tightened in 2024, 36 cryptography
MasterCard extend Crypto Solutions to Kazakhstan
MasterCard has released the Crypto qualification information solution for UAE and Kazakhstan people in the EEMEA region.
“Crypto is mature, easy to access, safe, and reliable,” said Gaurang Shah, MasterCard's EVP paid by EEMEA. With this movement, MasterCard has doubled its vision and how people interact with digital assets.
Including UAE and Kazakhstan is an important milestone for encryption qualification networks to participate in the increase in global markets that have already benefited from this technology. This network extends in North America, Europe, Latin America and Asia -Pacific.
Explore: MasterCard extends Crypto Solutions to UAE and Kazakhstan
KAZAKHSTAN's post -president's post is seeking urgent expansion of the encryption infrastructure that first appeared in 99bitcoins.
