A lot of things are happening behind the scenes in the cryptocurrency world. A fair few countries are cracking down on activity related to this form of money. Kazakhstan, on the other hand, is doing something entirely different. Although reports indicate an impending Bitcoin mining ban, that seems highly unlikely outcome.
National Bank of Kazakhstan governor Daniyar AKishev is not a big fan of cryptocurrency. He seemingly dislikes its idea, what it stands for, and especially the mining aspect. As such, he is confident there will soon be a ban on Bitcoin mining in the country. Assuming this is true, Kazakhstan would become the world’s first country to ban mining activities. However, it seems rather unlikely that will be the case moving forward.
The Bitcoin Plot Thickens in Kazakhstan
There is no shortage of people who oppose cryptocurrency. This is especially true in the banking sector, as cryptocurrencies pose a legitimate threat. As such, these industry leaders tend to oppose any form of money that doesn’t benefit their own business model. As such, it’s not surprising to see these comments by Akishev. Even so, his opinion will only carry so much weight, as he doesn’t speak for the entire government.
Unlike what Akishev may think, the National Bank has no clout in this regard. Their opinion can be expressed, but banning mining is not something they have a say over as of right now. Instead of gaining an understanding of Bitcoin and other cryptocurrencies, the bank seemingly prefers to ban everything. It is evident this is not the approach most officials in Kazakhstan want to pursue.
One has to keep in mind Kazakhstan has been quite open-minded toward new technologies. The country is in the process of digitizing most of its services. As such, a growing interest in blockchain and cryptocurrency is only normal. Until the government makes an official announcement, there will be no mining ban in Kazakhstan.
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