The government of Kazakhstan plans to subject local companies working with digital assets to certain rules. According to the bill, such organizations will have to provide detailed information on their transactions with the state supervisory authorities in order to prove that they are not involved in money laundering schemes.
The National Parliament of Kazakhstan has drafted a bill under which companies are subject to further financial audits in connection with crumbs. Politicians consider it necessary to give the tax office more powers and responsibilities.
MEP Olga Perepechina noted that the move aims to reduce the risks of money laundering and terrorist financing. Currently, individuals and companies working with digital assets are out of financial monitoring, which makes crisis transactions attractive to criminals:
This leads to the growth of the shadow economy and encourages crypto criminals to use virtual assets in their activities.
Now has the final say on the proposal of the country’s president, Kassum-Yomart Tokayev.
Kazakhstan is known in the digital assets sector as one of the leaders in crypto mining. The country accounts for 18.1% of the global hash rate, making it second only to the United States with 25%.