President of Kazakhstan says he is ready to legalize the mechanism of converting cryptocurrencies into cash

Kazakhstan is ready to legalize the mechanism of conversion of cryptocurrency into cash, said the President of the country Kassym-Zhomart Tokayev.“At the site of the international financial center “Astana” on a special pilot project, conversion of cryptocurrencies is already carried out. For this purpose quite innovative changes were made in the national legislation and regulatory environment. And we are ready to go further. If this financial instrument shows its further demand and safety, it will certainly get full legal recognition”, – stated Tokayev.Speaking at the Digital Bridge 2022 international forum, Tokayev stressed that Kazakhstan seeks to become an international leader in digital technologies, the cryptocurrency ecosystem and regulated mining.The president reportedly visited the joint booth of major local lender Eurasian Bank and cryptocurrency exchange Intebix at the Digital Bridge 2022 event.Eurasian Bank and Intebix announced that they jointly completed the bank’s first regulated purchase of cryptocurrency for fiat.ATAIX Eurasia and Biteeu Eurasia crypto exchanges are also participating, as well as Halyk Bank, Altyn Bank and Eurasian Bank.