Cryptocurrencies can get full legal recognition in Kazakhstan - President Tokayev

Finance Materials 28 September 2022 14:47
Baku, Azerbaijan Trend News Agency
Cryptocurrencies can get full legal recognition in Kazakhstan - President Tokayev

Cryptocurrencies can get full legal recognition in Kazakhstan, President Kassym-Jomart Tokayev said at the 'Digital Bridge' international technological forum, Trend reports via the Kazakh media.

According to Tokayev, the country intends to become a leading player in the field of new digital technologies, a crypto ecosystem, as well as regulated and transparent digital mining.

"On the site of the Astana International Financial Center, within the framework of a special pilot project, the conversion of cryptocurrencies is already underway. For this, quite innovative changes were made to the national legislation and regulatory environment, and we are ready to go further. This financial instrument will certainly receive full legal recognition if demand for it and its security will be proven in the future," he noted.

The president also noted that, according to experts, in 10 years up to 70 percent of products and services in the world will be based on digital platform models.

"Under these conditions, Kazakhstan has set itself a strategic task - to become one of the largest digital hubs in the Eurasian region. A solid groundwork for this has been already formed. Today, our country ranks among the top 30 most digitalized UN states, leaving behind many developed countries. Kazakhstan has clearly defined the vector of digitalization development, both in the content and institutional terms," Tokayev stressed.