Kazakhastan’s National Bank Raised Proposals
According to The central bank of Kazakhstan government should restrict some cryptocurrency-related activities. Somehow, the bank’s chairman admitted that he has less knowledge about Cryptocurrencies. Experts also involved in the talks & weighed on the reality of banning crypto mining in the country. High volatile nature of the market give short term gains but in the long term basis possibility of losses are there. It is difficult for the state to guarantee the real value and safety of funds based on cryptocurrencies. Investor have no security in the form of real assets and legally law can not bound persons. Therefore after serious discussions National Bank of Kazakhstan Proposes to Restrict the Exchange and Mining of Cryptocurrencies.
The National Bank of Kazakhstan has proposed
Now after the round of meeting The National Bank of Kazakhstan has proposed restricting some activities like mining trading etc.relating to cryptocurrency in the country. The central bank announced at a press conference on Wednesday In Astana.The objective of the proposal is to protect the public from speculative risks and losses. Due to the high volatility of the prices of the cryptocurrencies investors are always in risk. In the short term gives the owner the opportunity to make money on speculative transactions and that is very tempting. But in the future [it] may lead to significant damage from the loss of funds by the investors.
