Kazakhstan Allows Registered Crypto Exchanges to Open Accounts at Local Banks
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....
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Companies providing trading services for digital assets will be able to open accounts with banks in Kazakhstan, local media reported, quoting the country’s crypto industry association. The service should allow Kazakhs to legally invest in cryptocurrencies and cash out their profits. Crypto Exchanges in Kazakhstan to Be Offered Banking Services Kazakh banks will be permitted to open accounts for cryptocurrency exchanges registered at the Astana International Financial Center (AIFC), Kazakhstan’s National Association of Blockchain and Data Center Industry announced, quoted by....
A new project in Kazakhstan aims to enable local crypto businesses to provide crypto investment services legally. The Kazakhstan government is reportedly planning to officially authorize local banking institutions to open bank accounts for cryptocurrency transactions.Several banks in Kazakhstan will soon be officially approved to service companies and businesses providing exposure to cryptocurrencies like Bitcoin (BTC), local news channel Khabar 24 reported Sunday.Citing executives from the Data Center Industry and Blockchain Association of Kazakhstan, the report notes that it is unclear....
Authorities are looking to tighten their grip on the cryptocurrency industry. Financial regulators in South Korea have asked banks to provide information on their dealings with cryptocurrency firms, a local outlet reported on Wednesday, as authorities seek to determine how many cryptocurrency exchanges operate within the country’s borders. An unnamed regulatory body has requested that banks reveal the corporate accounts of cryptocurrency exchanges that haven’t already implemented real-name accounts for its cryptocurrency customers. Only the four largest exchanges in South Korea have thus....
Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets.
Investors in Kazakhstan Can Buy up to $1,000 in Crypto a Month Without Declaring Income
Kazakhstan has adopted limits for crypto purchases made by retail investors on the exchanges registered at the Astana International Financial Centre (AIFC), the local business news portal Capital reported, quoting....
Non-sanctioned foreigners are “more than welcome” at Intebix, but they need to set up a local bank card for crypto-to-fiat transactions, the CEO said. Some cryptocurrency exchanges continue onboarding Russian nationals despite the latest Western sanctions against Russia, but not without certain restrictions.In late September, Kazakhstan’s President Kassym-Jomart Tokayev witnessed the nation’s first regulated fiat-to-crypto purchase by a local commercial bank, the Eurasian Bank.The transaction involved a local crypto exchange called Intebix, which allows retail clients to buy crypto with....