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The National Bank of Kazakhstan (NBK) launched a new local agency that will be in charge of the CBDC development in the country. According to an official press release, the new agency will be called the National Payment Corporation. The primary responsibility of the new agency will be to control the national payment system, including money transfers, digital identification, and interbank clearing services. The initiative for developing the local CBDC, the digital tenge, started at the beginning of 2023. The digital tenge is set to be released in 2025.  The CDBC development in the country is currently under a pilot phase with actual companies and consumers. Binance partnered with Kazakhstan for the development of the digital currency. You might also like: Binance unveils local crypto exchange in Kazakhstan Despite recent issues related to crypto mining, Kazakhstan is generally considered a crypto-friendly destination. It is a crucial access point to the Commonwealth ...

Regulations have been becoming increasingly pertinent in the industry. With the demand for crypto soaring, governments have been trying to protect their citizens. Kazakhstan , a country that rose to fame in crypto town for harboring Bitcoin miners, has been regulating the market. After approving five crypto-related bills, the Kazakh government was making headlines for its latest crypto-mining bills. It was recently brought to light that the “On Digital Assets of the Republic of Kazakhstan ” crypto mining bills were passed by the lawmakers of the country. The lower hours of the Parliament of Kazakhstan called Mäjilis went on to give a green signal to four bills that oversee Bitcoin mining in the region. Speaking about the latest bill, a member of the Majilis’ Committee on Economic Reform and Regional Development, Ekaterina Smyshlyaeva said, “The bill, in addition to mandatory accreditation, introduces separate requirements for mining pools in terms of the loca...