Kazakhstan is taking another step towards the legalization of the cryptocurrency market

Kazakhstan Advances Cryptocurrency Legalization Steps

The adopted parameters should establish all the legal aspects related to the interaction of cryptocurrency owners and special trading platforms.

In addition, the paper concretizes the meaning of the most frequently used terms with regard to the creation, preservation and circulation of digital currencies (we are talking, in particular, about mining and smart contract), specifies all the legal subtleties of private placement of securities (which is not subject to registration) and provides for about a dozen options of private placement of tokenized securities.

As the authors of the document note, a ban on digital currencies will only contribute to the laundering of income and financing of terrorist organizations through shadow organizations using the techniques of the crypto market.

Investor Protection and Market Regulation

At the same time, there are serious requirements to provide unqualified investors with all important information about the projects.

Finally, the adopted document declares the need to comply with the requirements of cryptocurrency turnover consumer security, computer security and financial stability.

Elina Sidorenko, an expert in the sphere of risks of cryptocurrency circulation, owner of the Telegram-channel "Tripolina", has already expressed a positive assessment of the new document center "Astana", noting that Kazakh experts have joined together into one document the best practices.

At the end of March, the Central Bank of Kazakhstan announced a possible ban on the purchase/sale of digital currencies in the national currency of the country tenge. In addition, under the" round-up " can get cryptocurrency exchanges and mining. However, at the moment, these statements are not given the implementation.