Kazakhstan legalizes the purchase and sale of cryptocurrencies

Kazakhstan has officially legalized the purchase and sale of cryptocurrencies, and residents of the country can officially conduct transactions with bitcoin and other digital assets for tenge with the help of banks, Forbes writes.

Transactions are conducted through the crypto exchange-bank-client model. The Eurasian Bank’s developments are used for the transaction. A commission is charged for transactions.

Eurasian Bank has announced plans to issue a cryptocurrency card in Kazakhstan by the end of 2022. According to them, the card will allow Kazakhstanis to pay with cryptocurrency in stores. The transaction will be made in tenge from an account linked to an account on the Intebix crypto exchange.

Kazakhstan has become the fourth country in the post-Soviet space (after Ukraine, Estonia and Belarus) to officially legalize the purchase and sale of cryptocurrencies.