The first cryptobank may appear in Kazakhstan. It is assumed that the structure will regulate and control the circulation of digital assets in the country.
The deputy of the Kazakhstan parliament of Mazhilis Azat Peruashev made an initiative to create a cryptobank in the country. According to him, the national bank and smaller financial organizations that already actively introduce tools based on digital assets can become participants in this project.
Crypto Ripnik Problems in Kazakhstan
Peruashev emphasized that about 90% of all operations with cryptocurrencies in Kazakhstan occur outside the legal field. Without proper regulation, the country loses billions of tenge.
Now there is a ban on the circulation of digital assets. As the deputy noted, this leads to many problems: illegal circulation, financial scams, losses of money on dubious platforms and even tax evasion.
The solution to the problem can be a cryptobank – an institution that will take on the functions of monitoring cryptocurrency. Such a bank could:
- ensure transparency of transactions;
- protect against fraud;
- guarantee operations safety;
- allow to legally exchange and store digital assets.
Read more about cryptobank
According to the idea of Peruashev, the cryptobank will work by analogy with other financial institutions. However, his tasks will include not only the support of cryptotrazacities, but also attracting investments in digital technologies.
In addition, the new structure could be responsible for the creation of effective tools for mining and exchange of cryptocurrencies, as well as the integration of these assets into an existing financial system.
The idea of creating cryptobank was supported by other members of the parliament, including deputy Ekaterina Smyslyaeva. She proposed decriminalize the turnover of unsecured digital assets for individuals, provided they are used on licensed platforms.
Earlier, the President of Kazakhstan urged to urgently create an infrastructure for legal circulation of cryptocurrencies.
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Source: Cryptocurrency
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