Kazakhstan Tightens Grip on Crypto Market with Central Bank Oversight
Kazakhstan has enacted sweeping regulations for digital assets, granting its central bank authority to approve cryptocurrencies for trading on licensed exchanges. The MOVE signals a shift toward institutional control over the country's burgeoning crypto sector.
The legislation introduces a formal classification system for digital assets, including stablecoins and financial instruments. Exchanges must now obtain central bank licenses, with the National Bank of Kazakhstan overseeing issuance and circulation.
Market participants note the rules could impact liquidity for major coins like BTC and ETH, while potentially favoring regulated stablecoins. The framework mirrors global trends of balancing innovation with investor protection—what one Astana-based trader calls 'the inevitable price of crypto growing up.'
