President of Kazakhstan Kasim-Zhomart Tokaev announced plans to create a Cryptocity zone in the country, where digital assets will be used to purchase goods, pay for services and other purposes.

During the performance at the plenary session of the Astana International Forum, Tokaev emphasized that the pilot zone will be an important element of the state digital transformation.

“We have achieved significant progress in digital transformation, which reflects our desire to become an Eurasian IT Hub,” the president said.

According to him, Kazakhstan plans to strengthen its position in a number of key sectors, including digital technologies and artificial intelligence tools.

In turn, the Minister of Digital Development, Innovation and aerospace industry Zhaslan Madiev said that Cryptocity may appear inside the new city of Alatau.

“The president voiced such an idea. The government, together with regulators, will work to select the most suitable location. The most suitable for Cryptocity is the new city of Alatau, this is a project of our president. The idea is that the crypt to act as a means of payment, so that you can pay in restaurants, cafes, buy real estate, make investments with a crypt, ”the minister said.

According to him, thanks to the creation of Cryptocity, developers, programmers and investors from other countries will be able to come to Kazakhstan, which will give an additional new impetus to the economic growth of the state.

Earlier, the director of the Department of Payment Systems of the National Bank of Kazakhstan, Erlan Ashikbekov, said that officially licensed cryptocurrency exchange points will soon appear in the country. The National Bank will regulate their activities and issue licenses for operations to exchange crypto assets for fiat money.