Kazakhstan regulator allows banks to provide licensed crypto exchanges with bank accounts etc. gave the green light to offer services.
Kazakhstan, which houses a significant portion of Bitcoin mining power, has called for a collaboration between crypto exchanges and banks. According to the official announcement, the country has given the green light for second-tier Kazakhstani banks to now offer bank accounts and other financial services to crypto exchanges licensed by the country’s Financial Services Regulatory Commission (AFSA). In this context, Kazakhstan has launched a pilot program to encourage selected local banks to cooperate with licensed crypto exchanges.
The move has been on the country’s agenda since mid-2021. If the pilot is successful, it will allow the country to change its current regulatory framework and create a good crypto-asset framework.
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