ASTANA, Kazakhstan—Kazakhstan is getting ready to legalize a method for converting cryptocurrencies to cash if there is demand.
The country’s president, Kassym-Jomart Tokayev, in remarks to the international forum Digital Bridge 2022, said Kazakhstan aims to become an international leader in the field of digital technology, cryptocurrency ecosystem and regulated mining.
He noted that the government of Kazakhstan has drafted amendments in national law to pilot a mechanism for converting crypto at the Astana International Financial Centre, Cointelegraph said.
“We are ready to go further. If this financial instrument shows its further relevance and security, it will certainly receive full legal recognition,” Tokayev told the meeting.
Purchase Completed
The country’s president reportedly visited a joint booth of the major local lender Eurasian Bank and the Intebix crypto exchange at the Digital Bridge 2022 event, Cointelegraph said.
Eurasian Bank and Intebix jointly completed the bank’s first regulated crypto purchase for fiat. The precedent has marked a major milestone in Kazakhstan’s crypto adoption, allowing the Kazakh people to legally buy crypto for the national currency tenge, Cointelegraph said, citing local reports.
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