Digital tenge to be officially recognized as national currency
Regulation for digital financial assets (DFAs) as a new class of assets will be introduced in Kazakhstan under a new banking law. Madina Abylkassymova, Chairperson of the Agency for Regulation and Development of the Financial Market (ARDFM), announced this while presenting the bill in the Majilis, Kazinform News Agency reports.
The status of the digital tenge as a new form of national currency is being legislatively enshrined. Furthermore, the bill also provides for strengthening the regulation of payment organizations," the head of the ARDFM added.
According to her, the draft law establishes three types of DFAs:
- Stablecoins - digital assets that certify monetary claims;
- Digital financial assets backed by an underlying asset;
- Financial instruments issued in digital form.
The National Bank will regulate the issuance and circulation of stablecoins. The ARDFM will be granted new powers to set requirements for the issuance and circulation of digital financial assets backed by an underlying asset and financial instruments issued in digital form.
Digital financial assets will be issued by new financial market entities - digital platform operators, whose activities will be licensed by the National Bank.
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Tokayev expressed confidence that the documents signed today would give a strong impetus to further development of the political and economic interaction.
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Kazakhstan-Iran trade rises by 40%
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Head of State Kassym-Jomart and President of Iran Masoud Pezeshkian held a narrow-format meeting in the Akorda Palace, Qazinform News Agency reports.
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Kazakhstan and Slovenia Strengthen Economic Dialogue
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The Ministry of Energy of Kazakhstan has decided to revise the export routes of oil from the Kashagan field following drone attacks on the infrastructure of the Caspian Pipeline Consortium. Part of the volumes will be directed to China, Qazinform News Agency reports.
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