13:51, 14 June 2022 Page views 1195 views

Kazakhstan central bank to launch digital tenge at year end

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The National Bank of Kazakhstan will introduce a digital tenge by the end of 2022, Galymzhan Pirmatov, the chairman of the regulator, announced. He emphasized that the National Bank will only define the methodology for decision making on this issue by the end of July, while the decision will be made before the end of the year.

“Initially, we planned to adopt, by 2022 mid-year, a methodology to be used for making our decision on digital tenge by the end of this year. Therefore, the postponing of the digital tenge introduction is out of the question. We will announce our methodology as planned, by the end of June and, based on this methodology, we will make our decision on the introduction of digital tenge by the end of the year,” Pirmatov said.

Galymzhan Pirmatov said that it is premature to think about the legalization of cryptocurrency yet. He noted that it is necessary to use all benefits of decentralized finance.