Kazakhstan adopts regulatory framework for digital currency circulation
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The National Bank of Kazakhstan has approved the regulatory framework for the issuance, circulation, and regulation of the digital tenge, according to The Astana Times. The document establishes the rules for the functioning of the central bank digital currency.
The digital tenge will enable individuals and legal entities to conduct payments in electronic form using the digital version of the national currency. The initiative is part of Kazakhstan's digital economy development strategy.
The National Bank of Kazakhstan has approved the regulatory framework for the launch of digital tenge — an electronic form of the national currency to be issued by the central bank. Individuals and legal entities will be able to conduct payments and settlements in digital tenge, ensuring faster and more secure transactions.
If you live or do business in Kazakhstan, digital tenge could become an alternative to cash and card payments with lower commissions and greater transparency. The introduction of CBDC will improve payment system infrastructure, which is particularly important for small businesses and individuals who will gain access to cheaper and faster financial operations.
Mehmet Yılmaz