The Senate of Kazakhstan has passed a bill aimed at regulating cryptocurrencies and related activities in the country. According to local media reports, along with the promulgation of other legal documents, the new "Law of the Republic of Kazakhstan on Digital Assets" creates conditions for the establishment of a crypto ecosystem in the country.
Members of the upper house of parliament considered the omnibus bill earlier in January and decided to propose certain amendments to it, and the lower house of parliament has already approved its version of the bill. However, President Kassym-Jomart Tokayev dissolved the House of Representatives on January 19 and called for early elections.
Senator Bekbolat Orynbekov stated that the Senate has all legislative powers until a new lower house of parliament is elected. The digital asset regulations and related bills constitute a single set of laws that enable the head of state of Kazakhstan to perform his regulatory duties over digital currency mining and its circulation.
Tokayev has not yet signed the law and other necessary changes proposed by senators, including amendments to Kazakhstan's laws on taxation and other budget payments, judicial administration, and administrative violations. It is reported that a key goal of the government is to regulate the activities of companies issuing digital currencies in the country. (Bitcoin.com)
