Kazakhstan proposes national crypto bank

Member of the Kazakh Parliament Azat Peruashev, has initiated a proposal to establish a national cryptocurrency bank in the republic.

"An effective regulatory instrument for the industry could be the creation of a crypto bank, an institution that would take on the functions of monitoring, exchanging, and storing digital assets within the legal framework," Peruashev said.

According to him, the creation of such a financial institution would help reduce the shadow market for cryptocurrencies and increase tax revenues to the state budget.

Currently, the proposal is under discussion.