Companies providing cryptocurrency-related services will be able to open accounts in Kazakh banks as part of a pilot project, сообщили local media.
As ForkLog explained to the Association of Blockchain and Data Center Industry, this concerns a permission for banks to open accounts for legal entities that provide services for buying and selling cryptocurrencies and registered under the Astana International Financial Centre (AIFC).
Currently, banks do not offer such a capability for cryptocurrency companies.
“The National Bank of Kazakhstan at one time issued a document related to risk control, in which it stated a ban on servicing and opening accounts for such companies. This will now be corrected,” ForkLog quoted the Association’s president Alan Dordzhiev.
The pilot project is reportedly planned for a year. Which banks exactly will be able to work with cryptocurrency companies is not yet known.
ForkLog has sought comment from the AIFC, but as of this writing had not received a response.
Earlier in May, the Kazakh government considered proposals for a roadmap to develop the cryptocurrency industry and blockchain technologies. Among them are the possibility of launching crypto exchanges based on the AIFC, the development of a framework for platform interactions with Kazakh banks and individuals, and overall improvement of the regulation of such platforms.
The issuance and circulation of cryptocurrencies in Kazakhstan is prohibited “except as provided by law”.
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