[2018-04-03] Kazakhstan to Ban Trading Bitcoin as Well as Other Cryptocurrencies

[Vladdirescu87]

The National Bank of Kazakhstan has prepared amendments to the legislation aimed at tightening regulation of bitcoin and altcoins in the country. In particular, the institution intends to prohibit the purchase and sale of virtual coins for fiat currency on cryptocurrency exchanges, as well as any kind of mining.

"The National Bank is very conservative about this issue, welcoming only rather rigid restrictions. That means, we want to prohibit the purchase and sale of cryptocurrency for the national currency, we want to prohibit the activity of exchanges on this segment and any kinds of mining," Daniyar Akishev, the head of the National Bank told Sputnik on Friday.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/kazakhstan-to-ban-trading-bitcoin/

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[SaShiRaJaVu]

Most of the national bank representatives from around the globe have said the exact same things over the years and from what i understand they are yet to ban bitcoin and this is just a warning for the people that it might ban in the future and nothing else i guess, just another news update to scare away some users. 

[orions.belt19]

It seems that there are just plans of banning it yet no action yet has been made. For a country which is conservative, it's not going to be a surprise if they choose to ban cryptocurrencies. Perhaps they want to do so to avoid any involvement with cryptocurrencies since they want to ban any transactions, even just the purchase and exchange of crypto to their national currency. It's possible that their country is not yet ready to deal with crypto and has chosen not to have any affiliation with it. This is going to be at the disadvantage for the users within their country unless they find a way around it.