Bitcoin and other cryptocurrencies are banned completely in Kazakhstan

The Central Bank of Kazakhstan is taking a very harsh approach to digital currencies.

Speaking to Sputnik, the bank’s president, Daniyar Akishev, said that they openly want to ban cryptocurrencies.

Aishev’s words were:

“The National Bank of Kazakhstan has a very conservative approach to this issue. We want to prohibit the purchase of digital currency in the national currency. We want to ban all kinds of mining as well as the activities of exchanges in this area.”

Akishev continued, “We minimize the risks related to the national market. However, the central bank does not have all the tools to control this market in the cross-border market. Therefore, we should at least avoid this risk in terms of national currency.”

The President recently stated that one of the biggest risks is the use of cryptocurrencies in illegal activities.