The National Bank of Kazakhstan intends to prohibit the purchase and sale of cryptocurrency for tenge (the national currency of Kazakhstan). It is also going to stop the activity of exchanges in the segment, as well as all kinds of mining. This was stated by the chairman of the National Bank Daniyar Akishev.

“We minimize the risks related to the national market. However, no central bank has all the instruments to control this market in the cross-border market. Therefore, at least, we must prevent this risk via the national currency,” added Akishev

Following his words, another big risk is the possibility of cryptocurrency to commit illegal activities.

“Crypto currency is an ideal tool for money laundering and for avoiding taxation,” Akishev explained.

According to him, the tough position is supported by the majority of state bodies of Kazakhstan and the needed legislation prepared already.

Kazakhstan is home to Taklimakan, a decentralized investment and educational business platform for cryptocurrency investors, traders, analysts aiming to become connecting resource between beginners and experts.