The central bank of Kazakhstan has submitted proposals to its government to restrict some cryptocurrency-related activities. However, the bank’s chairman admitted that he does not fully understand what cryptocurrency is. Experts also weighed in on the reality of banning crypto mining in the country.
The National Bank of Kazakhstan has proposed restricting some activities relating to cryptocurrency in the country, Ria Novosti reported. 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,” the publication conveyed.
“The high volatility of the prices of the cryptocurrencies in the short term gives the owner the opportunity to make money on speculative transactions,” Akishev was quoted saying. “But in the future [it] may lead to significant damage from the loss of funds by citizens.” He revealed: […]
Read Full: National Bank of Kazakhstan Proposes to Restrict the Exchange and Mining of Cryptocurrencies
