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Kazakhstan’s Central Bank has revealed hatred toward Cryptocurrencies. The National Bank wants to ban cryptocurrency trading and mining in the European nation.
The Chairman of the National Bank said:
the central bank is “taking [a] very conservative approach” towards cryptocurrencies, looking for “extremely tough restrictions.”
Speaking to Sputnik News, Daniyar Akishev told the Russian government news site, he wants to ban all crypto exchanges and prevent residents from converting the nation’s fiat currency into any form of cryptocurrency.
In addition, he said he wants to ban cryptocurrency mining within Kazakhstan’s borders. Daniyar Akishev went further to say:
“We minimize the risks related to the national market. However, no central bank has all the instruments to control this market in the cross-border market. Therefore, at least, we must prevent this risk via the national currency.”
The National Bank chairman believe that cryptocurrencies are “an ideal instrument for money laundering and tax evasion,”. Although, at present there is no law or regulation concerning CryptoCurrencies in the country.