Cryptocurrency verification council will be established in Kazakhstan

Cryptocurrency verification council will be established in Kazakhstan. According to Yeset Butin, chairman of the Council of Kazakhstan’s Association of Blockchain and Cryptocurrency, they will conduct an examination of all projects arising in the domestic market and provide citizens advice on investing. According to experts, Kazakhstan should conduct preparatory work and adopt a law on digital money beforehand; otherwise a significant part of the capital will go abroad. At present, Kazakhstan citizens are using the services in Russia, the United State, Singapore and South Korea to purchase cryptocurrency.

YESET BUTIN, CHAIRMAN, COUNCIL OF KAZAKHSTAN’S ASSOCIATION OF BLOCKCHAIN AND CRYPTOCURRENCY:

 - Our citizens should have an opportunity to participate in these markets independently, in the markets of Kazakhstan. Therefore, it is very important to work out the rules of regulation and supervision of creation of cryptocurrency trading platforms, exchanges, and exchange offices to enable people to buy tokens for tenge, not for dollars. In the end, this will let people make money.

Council of Kazakhstan’s Association of Blockchain and Cryptocurrency has signed two memoranda on cooperation with the Astana International Finance Center and the Korean Blockchain Industry Promotion Association in order to facilitate the development of the new sphere.