Baku, Azerbaijan, Feb. 5
By Ali Mustafayev – Trend:
The National Bank of Kazakhstan is studying the ways of regulating the crypto-currency market, said the Deputy Chairman of the National Bank Oleg Smolyakov during the presentation of a government bill on currency regulation and currency control, Kazakh media reported.
"Presently, we are studying the ways of settlement of transactions in the market of crypto-currencies. International practice on crypto-currencies is ambiguous. Some countries actively stimulate operations with crypto-currencies, others forbid them. Obviously, the crypto-currency is not a currency value, as it is a certain financial product, technology, but not a means of settlement or payment," said Smolyakov.
He stressed that the crypto-currency may appear as a financial product, but not as a surrogate of money.
He also added that operations with crypto-currencies for more than 7 million tenge ($21,739) are being monitored by the National Bank.