Kazakhstan Senate Adopts Legislation Subjecting Crypto Platforms to Financial...
The Senate in Kazakhstan has approved amendments aimed at preventing the legalization of illicit funds which will affect companies dealing with digital assets, among others. The new legislation subjects crypto service providers to the country’s financial monitoring regime. Senators Back Law Concerning Crypto Services in Kazakhstan Members of the upper house in Kazakhstan’s parliament, the Senate, have recently adopted new legislation tailored to improve the prevention of the laundering of proceeds of crime and the financing of terrorism. Key provisions adopted....
Related News
The Kazakhstan national parliament has passed a law that subjects crypto service providers to the country’s financial monitoring system. The law aims to protect investors and also prevent crypto-related crimes from happening. According to a local report, the legislation mandates crypto platforms in the country to follow Anti-Money Laundering (AML) regulations. It is called the law […]
The country's legislature has passed a law that would impose financial monitoring on crypto platforms. According to new legislation passed by the upper house of the country's national parliament today, crypto businesses in Kazakhstan may soon be subjected to Anti-Money Laundering (AML) regulations, as reported by local news outlet Vlast. The new law extends the country's financial monitoring system to cover crypto service providers.The new legislation would also establish a legal institution of public officials. When a firm launches its cryptocurrency trading service or issues digital....
Government officials in Kazakhstan have approved regulations that will govern interactions between authorized coin trading platforms and traditional financial institutions. The new rules will allow registered cryptocurrency exchanges to have bank accounts in the country.
Pilot Project to Develop Kazakhstan Into Regional Crypto Hub
Regulations allowing crypto exchanges registered at the Astana International Financial Center (AIFC) to be serviced by second-tier banks in Kazakhstan have been adopted by a working group comprised of representatives of the Ministry of Digital....
According to the country's vice minister of energy, addressing the potential strain on Kazakhstan’s power grid from crypto miners “cannot be delayed any longer." Now responsible for the second-largest contribution to the Bitcoin hash rate, Kazakhstan’s energy grid may be unprepared to handle the addition of many cryptocurrency miners from China and others looking to capitalize on low-cost electricity.In a Wednesday report from Reuters, government officials in Kazakhstan estimate that unregistered crypto miners in the country could be consuming twice as much power as those registered to....
New legislation proposed in the parliament of Kazakhstan will allow only authorized miners to mint digital currency, if adopted. The draft has been designed to comprehensively regulate the industry and reduce what its sponsors label as uncontrolled consumption of electricity in the sector. Lawmakers in Kazakhstan Submit Crypto Mining Law, Seek to Curb ‘Gray’ Mining Members of the Mazhilis, the lower house of Kazakhstan’s parliament, have put forward a new bill introducing rules for the extraction of cryptocurrencies in the country. Under its provisions, only companies....