Kazakhstan calls for the development of common rules for cryptocurrency in the UN

The President of the Republic of Kazakhstan Nursultan Nazarbayev proposed to develop common rules for the use of cryptocurrency on the platform of the United Nations (UN), since the uncoordinated actions of States in this direction will not produce effective regulation. He stated this at a plenary session Global Challenges Summit on 17 may 2018.

«The use and regulation of cryptocurrencies – a very important question. Most countries are actively exploring the possibility of adapting them to the current configuration of financial systems. At the same time, completely uncoordinated actions of States in this matter will lead to inefficiency. You need to begin to develop common rules,» he said.

Take to realize this initiative at the UN, Nazarbayev called her the sole body which elected the entire human society to solve a very serious problem.

«Given the need to involve the international community in developing a global anti-crisis solutions, I suggest to use the UN to create common standards for the regulation of digital money,» he added.

However, it seems that the internal policy of Kazakhstan regarding cryptocurrency is evolving in a very different direction. Earlier, the national Bank of Kazakhstan has announced its intention to apply a rather rigid restrictions in this sector.

According to the head of the Central Bank Daniyar Akishev, he intends to ban the buying and selling of crypto-currencies for tenge, the operation of the cryptocurrency exchanges, and any kind of cryptocurrency mining because of problems associated with the protection of consumer rights.

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