The chairman of the National Bank of Kazakhstan said that he wants to ban cryptocurrency trading and mining in the country.
Speaking to Sputnik News, Daniyar Akishev said that the central bank was "taking a very conservative approach" towards cryptocurrencies, adding that the regulator "welcomes nothing but extremely tough restrictions".
He added that he wants to ban the exchange of digital currencies for the national currency, the tenge, as well as cryptocurrency mining.
According to Akishev, cryptocurrencies lead to many problems, including investors protection concerns.
"We minimize the risks related to the national market. However, no central bank has all the instruments to control this market in the cross-border market. Therefore, at least, we must prevent this risk via the national currency," he said.
Akishev said that cryptocurrencies are also often used in criminal activities.
"The digital currencies are an ideal instrument for money laundering and tax evasion," he explained, adding that the central bank’s harsh stance against digital currencies was supported by the majority of Kazakhstan’s state bodies.