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Kazakhstan Moves to License Crypto-to-Fiat Exchange Services
Kazakhstan Moves to License Crypto-to-Fiat Exchange Services
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Kazakhstan’s National Bank is set to introduce licensing for cryptocurrency exchange services, marking a significant step toward formalizing the digital asset sector. The new framework will regulate platforms converting crypto to fiat, with oversight from the central bank.
Yerlan Ashykbekov, head of the bank’s payment systems department, confirmed the creation of a licensed operator category. These entities will be authorized to facilitate crypto-fiat conversions, subject to strict supervision. The list of approved cryptocurrencies for trading will be determined by regulators.
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