Regulation in Kazakhastan

[gyu22]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

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[Almat]

That looks like it could still go either way, so I hope they do not implement a ban. Countries really should not reject something they have not done their homework on yet. If they do proper research, I am sure they will be open to cryptocurrencies.

[Klausi]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

Regulating the ICO or even the bitcoins is the prerogative of every nation in order to ensure the safety of their citizens and the country.  we must admit that if bitcoin will not be monitor it will put the people at risk because it might be use in legal activities such as money laundering and smuggling which is hard to trace if their is no regulation could be created.

[SvenBomvolen]

Looks like they decided to go by road of their partner Russia. Well, I'm not surprised, but “to protect the public from speculative risks" sounds to me too skeptical. What are those risks? Is that a risk that many of people are increasing their financial opportunities by crypto-currencies trading? It's not a secret that many of people are going well with trading and risks are more used to newbies who don't know a thing about trading, but just have a wish to become rich as fast as possible.

[audaciousbeing]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

Its good for them to start the consideration and cutting themselves out of the future of finance. The issue of regulation as being proposed by the Central Bank's chairman is a ruse in itself as its another name for banning which is their ultimate objective. For a country like China or United States that could not stop bitcoin, they are now coming to say they want to develop an approach towards issuance and circulation.

Unfortunately for them, they cannot do anything about the circulation only if they would shut down their internet. On the issue of issuance, they can have an headway in that path by issuing their own government controlled currency aside that, the plan is meant to fail from the beginning.

[M05J]

They;ve been monitoring digital currencies for years now. This is no surprise, but thats a good thing since Kazahkstan's econmy is growing little by little

[777Bitcoin]

Haven’t it obvious already, I’ve been reading some thread with this tone of discussion. Is this part of what we called “continued attacks” by them to give bad image to bitcoin. It is so annoyingly continuous and controversial because all of the sudden after nothing happens to other black propaganda, now they’re using a different approach. The central banks itself like in my country.  This will work? No and I’m confidence with that.

[tomahawk9]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

Another govt that wants to take over cryptocurrencies because they see an oportunity to generate more income to the state. And of course the cental banks are the ones trying to put an end to bitcoin, not surprising, though. We've been reading this kind of news from all around the world for the past few months, seems to me like they're starting to see bitcoin as a big threat, huh?  And I'm not against regulations, as it would be a big step towards a massive acceptance from the public, but straight up banning or restrictions is just plain stupid.
Also, is it me or Europe seems to be taking this cryptocurrency problem a bit too far? there's always a ban/restriction as an option on the table whenever they talk about cryptocurrencies

[dunfida]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

Mining itself doesn't really carry any risk of a certain country.Why wont they able to realize that stuff.? If the would like to impose on those mining business owners then its possible but I don't think if this law would be implemented most of them will surely hide and mine without noticing on its government. Banning is impossible but they can able to regulate some stuff related to it.

[peter0425]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

Do Kazakhs mined bitcoin though? I'm not familiar and never heard that someone from their is doing mining. I think is this is a good move from their government by putting regulations on crypto. I think Kazakhs are very active in crypto maybe I just didn't know about them. Because when the government wants to regulate, its a sign that their citizens are heavily invested on it and having a regulation is like saying that yes you can go trade or whatever you want with your crypto, however we are going to monitor your activity. This is better than a total ban.

[ember.suc]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities.So it's really reassuring that Kazakhstan  is "protecting the people" from having a choice between their  government currency which keeps it's citizens in a third world dump, and an inflation proof investment that actually increases in value.

[Lancusters]

Kazakhstan is a member of the customs Union. All members of the Union politically and economically dependent on Russia. It makes no sense to pay attention to the statement of the Kazakh authorities. Until Moscow is not determined by their attitude to bitcoin nor Kazakhstan, nor Belarus, nor any action will be.

[ember.suc]

Kazakhstan has taken another step to control cryptocurrencies. Some days ago, Astana International Finance Centre (AIFC), said that signed a partnership to develop a national cryptocurrency.

[Kronos21]

Kazakhstan has taken another step to control cryptocurrencies. Some days ago, Astana International Finance Centre (AIFC), said that signed a partnership to develop a national cryptocurrency.

Kazakhstan could sign anything but it will not have any success. Governments think bitcoin is such a success because it is convenient to use. Fools. They do not understand what bitcoin popularity stems from the fact that people want to get away from the inept management of the economy by governments. Who needs their cryptocurrency?

[iamTom123]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

I understand well that it is the job of the government to warn the people of any possible risks involved with any business or transactions and it has the sovereign power to regulate anything including the trading (buy and sell) of Bitcoin within the country's jurisdiction and to be implemented with all of its citizens. While its true that there are inherent risks with Bitcoin as can be true with any investment vehicle around, it is also true that there are underlying benefits that Bitcoin can bring to the country and that is why a regulation meant to protect the people and not really to kill Bitcoin should be welcomed with open arms. I am hoping that Kazakhstan is following this path after in consultation with people who are already knowledgeable with Bitcoin and not just with those who are pretending to be Bitcoin experts but are just actually Bitcoin newbies like me.

[baradfo]

The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. The central bank’s chairman, Daniyar Akishev, said at a press conference in Astana on Wednesday that this is “to protect the public from speculative risks". Akishev said on Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates his statement last week that amendments to the legislation will be developed to regulate them and that currently their legal status has not been determined. But experts  said that bannin mining itself is virtually impossible and does not carry risk for a coutnry.

Regulating the ICO or even the bitcoins is the prerogative of every nation in order to ensure the safety of their citizens and the country.  we must admit that if bitcoin will not be monitor it will put the people at risk because it might be use in legal activities such as money laundering and smuggling which is hard to trace if their is no regulation could be created.

True it is the prerogative of every nation to do what they will with their populace, in the name of security or otherwise. But I think that most of the community in these boards would agree that an informed and educated directive would be more of an approach than just the typical "in the name of security" ban that governments are knee-jerking to in order to do something about cryptocurrencies. Yes cryptocurrencies can be used in illegal activities, but what currency cannot? Yes it is hard to keep track of the criminals that do use cryptocurrencies, but not impossible. It's also just as hard to keep track of those same criminals that use cash, if not more so. So to fall on the default of security is a lame excuse for laziness for a government that wants to control its citizens.

[Aneelal]

Hello! I don't know about AUD-KZT; as the others said, banks should be able to do it, but I would also suggest bringing USD to be safe.
The smaller money exchange places usually have a better rate than banks - but if you feel safer/more used to it, go to any bank. At any independent exchange place, you can expect to have a calculator next to the window. Don't be afraid to count your money right there (all of those places have a sign that says please count your money AT the counter) - so you can make sure the amount is correct and they know you counted it right in front of them.
If you decide to go to one of those, this is our usual spot it's in the same entrance as the notary.

[Giric]

Hello! I don't know about AUD-KZT; as the others said, banks should be able to do it, but I would also suggest bringing USD to be safe.
The smaller money exchange places usually have a better rate than banks - but if you feel safer/more used to it, go to any bank. At any independent exchange place, you can expect to have a calculator next to the window. Don't be afraid to count your money right there (all of those places have a sign that says please count your money AT the counter) - so you can make sure the amount is correct and they know you counted it right in front of them.
If you decide to go to one of those, this is our usual spot it's in the same entrance as the notary.

Wonderful thank you very much!

[Stianyd]

Hello! I don't know about AUD-KZT; as the others said, banks should be able to do it, but I would also suggest bringing USD to be safe.
The smaller money exchange places usually have a better rate than banks - but if you feel safer/more used to it, go to any bank. At any independent exchange place, you can expect to have a calculator next to the window. Don't be afraid to count your money right there (all of those places have a sign that says please count your money AT the counter) - so you can make sure the amount is correct and they know you counted it right in front of them.
If you decide to go to one of those, this is our usual spot it's in the same entrance as the notary.

Wonderful thank you very much!

It would be really problematic to change directly from AUD to KZT. Even if you find some place, exchange rate would be much higher. You would be definitely better off to come with USD.
What do you mean by money changers?

[Renr]

Hello! I don't know about AUD-KZT; as the others said, banks should be able to do it, but I would also suggest bringing USD to be safe.
The smaller money exchange places usually have a better rate than banks - but if you feel safer/more used to it, go to any bank. At any independent exchange place, you can expect to have a calculator next to the window. Don't be afraid to count your money right there (all of those places have a sign that says please count your money AT the counter) - so you can make sure the amount is correct and they know you counted it right in front of them.
If you decide to go to one of those, this is our usual spot it's in the same entrance as the notary.

Wonderful thank you very much!

It would be really problematic to change directly from AUD to KZT. Even if you find some place, exchange rate would be much higher. You would be definitely better off to come with USD.
What do you mean by money changers?

No problems. I will bring USD! That's easily done.