New Committee to Oversee Crypto Market and Payment System

A new committee will be created within the National Bank to oversee Kazakhstan’s digital asset market and payment system. National Bank chair Timur Suleimenov announced the plan, Orda.kz reports.

According to him, the committee will become a single coordination center for the crypto sector. It will monitor the circulation of digital assets and the operation of the country’s payment system.

The committee will work in two areas: digital assets and the payment system. One of its key tasks is to ensure full control and transparency in the payment market. The second is the development, regulation and supervision of the digital financial assets market. These instruments are developing rapidly, and without a separate body that understands them as well as the market does, it will be difficult to track all the processes,Suleimenov said.

Specialists are now working on the structure of the new committee and the necessary regulatory documents. The body may start operating within the next three months.

Original author: Alina Elgeldina

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