TechFlow news — The Senate of Kazakhstan has passed a bill aimed at regulating cryptocurrency and related activities in the country. According to local media reports, along with other legal documents, the new "Law of the Republic of Kazakhstan on Digital Assets" creates conditions for establishing a crypto ecosystem within the nation.
Members of the upper house of parliament reviewed this comprehensive bill earlier in January and decided to propose certain amendments, after the lower chamber had already approved its version. However, President Kassym-Jomart Tokayev dissolved the lower house on January 19 and called for early elections.
Senator Bekbolat Orynbekov stated that until a new lower house is elected, the Senate holds full legislative authority. The digital asset regulation and associated bills form a single legal package enabling the head of state of Kazakhstan to fulfill responsibilities regarding oversight of cryptocurrency mining and circulation.
Tokayev has not yet signed this law or other necessary amendments proposed by senators, including changes to Kazakhstan's tax laws, other budget payments, judicial administration, and administrative offense legislation. It is reported that one of the government's key objectives is to regulate the activities of companies issuing digital currencies within the country.Source link
