Cryptocity will appear in Kazakhstan, where it will be possible to pay cryptocurrencies

In Kazakhstan, they will create a special zone called Cryptocity, which will test payment of goods and services with cryptocurrencies. This was announced by the President of Kazakhstan Kasym-Zhomart Tokaev as part of the plenary session of the Astana International Forum, writes RBC Crypto.

“We plan to create an innovative Cryptocity pilot zone, in which cryptocurrencies can be used to buy goods, services and for other purposes,” Tokaev said.

He noted that Kazakhstan continues to strengthen the potential in key sectors, including digital technologies, and has already achieved significant progress in digital transformation, which reflects the desire of the republic to become an Eurasian IT Hab.

So far, cryptocurrency operations in Kazakhstan can legally take place only on crypto -rhizas operating within the framework of the Astana International Financial Center (IFCA). Currently, several crypto services (digital assets service providers) are registered in the IFCA, including the local Binance unit and the BYBIT exchange.

In January of this year, Tokaev urged to urgently expand the cryptocurrency infrastructure of Kazakhstan. He drew attention to the fact that most cryptocurrency users in Kazakhstan work in the gray zone, and announced the need to change the approaches to the circulation of digital assets and the creation of infrastructure for a wider legal circulation of digital assets.

In mid -May, the National Bank of Kazakhstan reported that for this purpose, crypto exchangers are legalized in the country. For this, the legal status of crypto exchange platform operators will be enshrined and licensing their activities is introduced.

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