Crypto industry: clear rules of the game are being established in Kazakhstan

Crypto industry: clear rules of the game are being established in Kazakhstan

The prospects for the development of Digital Mining were discussed by the Participants of the panel discussion of the International Forum Digital Almaty.

Pavel Koktyshev, Head of the Affiliated Center of the Fourth Industrial Revolution, mentioned that despite declining development indicators of the sector over the past two years (which is typical for most economy sectors around the world), the industry is on the right track.

Sapar Akhmetov, Chairman of the Kazakhstan Association of Blockchain Technologies, noted that Kazakhstani industry companies also faced with big challenges.

But we have seen positive trends this year. The state is sensitive to the trend of industry development. This means, first of all, the clear rules of the game that are being created in Kazakhstan. This year, our association will continue to work with the government, the AIFC,” he said.

Akhmetov expressed confidence that Kazakhstan needs to introduce the turnover of cryptocurrencies, taking into account security issues and creating conditions for anti-money laundering. The Association, in response “is starting to consider the launch of educational programs, because many crypto traders and many scammers started to appear on the market, so citizens need to be educated.”

 Gizat Baitursynov, Deputy Director of the Department for the Development of the Electronic Industry and the Digital Assets of the MDDIAI, reminded that the Parliament adopted a Law on digital assets, which settles key issues in this sector, making it transparent.

“In many countries, cryptocurrencies are used as a means of payment. Our National Bank is not yet ready, but I think we will get there in the future,” he said.

 

Digital Almaty is a traditional dialogue platform for discussing the digital agenda, new strategies for digital transformation, and trends in digital technology. The forum has been held for the fifth time since 2018. The event is organized by the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, Ministry of Foreign Affairs of the Republic of Kazakhstan, Akimat of Almaty City, Tech Garden and Astana Hub.

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