Central Bank of Kazakhstan proposes to restrict exchange and mining of cryptocurrencies

Daniyar Akishev, the head of the National Bank of Kazakhstan, noted the risks of the cryptocurrencies and warned that they are not the best investment options. However, as the head of the central bank revealed, he does not understand what a cryptocurrency is.

I still do not understand what the cryptocurrency is … it is a tool that does not have a normal emitter, a single centralized body, respectively, is not backed by anything and its value is based only on speculative operations.

The head of the National Bank of Kazakhstan, Daniyar Akishev, warned the Kazakhs against the use of the cryptocurrency. In its opinion, its value is based on speculative operations.

We sent our proposals to the government, in which we suggest to carry out a series of stricter measures, which prohibit the exchange of national currency by cryptocurrencies, prohibit the activities of some companies that generate cryptocurrencies, etc.

Restricting the activities of cryptocurrencies in the country will hinder innovation. Kazakhstan’s central bank wants to protect the public from speculative risk. An interesting idea, although people are more than capable of making their own decisions. Prohibiting the exchange of national currencies by Bitcoin and altcoins is a big step back.

In addition, Akishev said Wednesday that the bank and the government are “developing an approach to the issuance and circulation of cryptocurrencies.” This reiterates its statement last week that amendments will be made to the legislation to regulate them and that its legal status has not yet been determined. According to him, the complexity lies in the characteristics of the cryptocurrencies, “which are supranational in nature, nor are they any obligation or guarantee of anyone, including the state,” Ria Novosti said.

“The state can not guarantee the real value and safety of crypto-coin-based funds, which have no security in the form of real assets and legally-bound persons,” Akishev was quoted as saying.

He noted that people want to invest in cryptocurrencies, but are not taking steps to ensure the safety of their assets. If the bubble explodes suddenly, he exclaimed, “what will happen to the people who invested? I suppose they can come to the state and say, ‘Why did not you warn us in time?’ Therefore, I warn you now that these operations carry risks. “

Jose Felip

Jose Felip

The difficult thing is not to learn, the difficult thing is to know how to teach. Editor and coordinator of the free book "La era de las BLOCK punto COM" CEO of bitcoiner.today