ALMATY, May 22 (Xinhua) -- Kazakhstan's National Bank has developed legislative amendments to regulate the turnover of digital assets in the country, Kazinform news agency reported Thursday.
"In line with the President's directive, the National Bank jointly with interested government agencies has developed a package of legislative amendments shaping a legal framework for digital asset turnover," Deputy Governor of the National Bank of Kazakhstan Berik Sholpankulov said at a briefing.
The proposed amendments consist of two parts. The first part concerns the launch of digital financial assets and the definition of their legal status. The second introduces regulation of the circulation of unsecured cryptocurrencies through the licensing of crypto exchange service providers.
"The National Bank is also introducing the Digital Asset Regulatory Sandbox which will enable the market participants to test various innovative services and technologies," Sholpankulov added. ■
