Kazakhstan’s central bank eyes issuing its own digital currency

The National Bank of Kazakhstan is studying the possibility of introducing a central bank digital currency (CBDC), according to the statement of the regulator.

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At this stage, experts are developing a paper outlining various scenarios for issuing a CBDC in Kazakhstan. It is expected to be presented in the second half of 2021.

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Following the discussion of the document, the central bank is prepared to launch a pilot project for the phased rollout of the CBDC.

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The National Bank is part of an international research group on digital currencies, together with 28 other central banks, the press service stressed.

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Earlier, proposals for Kazakhstan’s national digital currency were voiced.

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In June, the President of Kazakhstan signed a bill “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Issues of Regulation of Digital Technologies.” According to it, digital assets are recognised as property.

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Read more about changes to cryptocurrency regulation in Kazakhstan in ForkLog’s exclusive.

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Ban on Bitcoin and the legalization of mining: features of cryptocurrency regulation in Kazakhstan

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