Kazakhstan's President Kassym-Jomart Tokayev signs a bill to formalise cryptocurrency exchanges and allow trading only in coins approved by the central bank, Cointelegraph reports on Jan. 19 local time.
The bill includes amendments to the Law on Regulation of Banks and Financial Markets and the Law on Regulation and Development of Financial Markets, Communications and Bankruptcy. It classifies digital assets into 3 categories: stablecoins, assets linked to financial products and real estate, and electronic financial products. Under the bill, only coins approved by the central bank can be traded and exchanges must also obtain licences.
The bill also includes "unsecured digital assets" such as bitcoin (BTC) and ethereum (ETH). It requires the central bank to separately manage a list of approved coins. Trading limits and restrictions will also be set to protect investors.
Chi-gyu Hwang
delight@d-today.co.kr