Kazakhstan has become the first country to purchase real estate with its own cryptocurrency.The country is now considering “full legal recognition” of the asset class as its president Kassym-Jomart Tokayev noted at the international forum Digital Bridge 2022.
In the future, Kazakhstan plans to become a leader in the digital asset ecosystem. To this end, it has made changes to national legislation and regulatory policies. The country’s pilot launch is expected to be successful, though it will remain in a test phase until 2022 as the nation-state continues to study demand for and security of the asset class.
The President of Kazakhstan has announced his approval for the country to become a hub for trading and mining in Bitcoin. Kazakhstan's mining industry is already thriving, so this endorsement from the President could lead to a positive change in legislation.
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