Kazakhstan Can Forbid Cryptocurrency Advertising


Published on 11 Apr. 2018
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The head of the National bank of Kazakhstan Daniyar Akishev believes that they should look up to Google, Facebook, and Twitter, and prohibit the advertising of cryptocurrency, reports the informational agency Sputniknews.

In the opinion of the financier, the ban on the cryptocurrency ads and agreements with the mass media on the topic is just the ticket. 

We plan to introduce a ban for financial and payment organizations on carrying out the operations and agreements connected to cryptocurrencies. It will be right to prohibit cryptocurrency advertising and related contracts with mass media, as it is already implemented by Google, Facebook, Twitter, and other global technological companies,

—Akishev mentioned in the lobbies of the Kazakhstan parliament.

The National bank of Kazakhstan has the intention to forbid buying and selling of cryptocurrencies for tenge, the Kazakh national currency. Any mining and cryptocurrency activity of exchanges will also fall under the prohibition. As for mining, Akishev specified that the ban would extend on the emission of cryptocurrencies and their distribution.

Cryptocurrencies that a miner receives as a reward for his services would not be recognized as an asset, financial instrument, or securities on the territory of Kazakhstan either, the regulator explained.

Akishev also talked about the recent presentation of the blockchain-based program “Invest Online” which, according to his words, has demonstrated decent results.

Today, 564 users are registered in the system, 240 813 notes are purchased for the sum of 22.2 million tenges. Also, individuals can re-sell the purchased notes to the National bank. In particular, at the moment people have sold 56 406 notes for 5 208 662 tenges. Dynamics is positive, and the numbers are growing every day,

- Akishev summed up. 


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