Kazakhstan Sees $15 Billion Crypto Exodus Amid Regulatory Void
Kazakhstan’s central bank revealed a staggering $15 billion outflow of cryptocurrency assets, attributing the capital flight to inadequate legal frameworks. Deputy Chairman Berik Sholpankulov described the situation as a "leak" resulting from insufficient investor protections.
The announcement coincides with Astana’s preparations to implement comprehensive crypto regulations. Financial authorities aim to establish clear rules for digital asset investments and trading, potentially stemming further outflows.
"Administrative and legal regulation remains insufficiently structured for SAFE citizen investments," Sholpankulov stated during a press briefing. The remarks underscore growing pains in Central Asia’s emerging crypto markets as governments balance innovation with oversight.
