The Central Bank of Kazakhstan has allowed its own digital currency to be issued

The National Bank of Kazakhstan is studying the possibility of introducing digital currency of the central bank (CBDC), the regulator said.

At this stage, experts are developing a report with different scenarios for the issue of CBDC in Kazakhstan. It is expected to be presented in the second half of 2021.

After discussion of the document, the CBDC is ready to launch a pilot project on phased implementation of the CBDC.

The National Bank is part of an international research group on digital currencies, along with 28 other central banks, the press service said.

It should be reminded that the proposal to create a national digital currency by Kazakhstan was voiced earlier.

In June, the President of Kazakhstan signed a bill „On amendments and additions to some legislative acts of the Republic of Kazakhstan on regulation of digital technologies. According to it, digital assets are recognized as property.

For more information on changes in the regulation of cryptographic currency in Kazakhstan, please read the ForkLog exclusive.