Kazakhstan will decide on the introduction of CBDC by the end of 2022
Kazakhstan, one of the largest countries in the world in terms of bitcoin hash power (BTC), continues to research a potential central bank digital currency (CBDC).
According to the local news agency Kazinform, the National Bank of Kazakhstan has completed the development of a prototype for its digital tenge platform.
The central bank is currently preparing to announce the preliminary results of the digital currency experiment and the CBDC pilot on December 15, Dosayev said. He noted that domestic financial companies and a number of international partners participated in the pilot project.
Despite active CBDC tests, Kazakhstan still has to decide whether to introduce a digital representation of its national currency. According to Dossaev, the Central Bank should make such a decision in December 2022.
According to the governor, the National Bank of Kazakhstan is paying increasing attention to the development of CBDCs abroad, as more and more countries around the world are developing their own digital currencies.
On the subject: Bitcoin Mining Energy Crisis: Kazakhstan Towards a Nuclear Solution
Kazakhstan began public consultations on a potential CBDC in May 2021 after local authorities began considering a national digital currency last year.
Kazakhstan’s approach to CBDC implementation follows a similar plan from Russia, a country in the former Soviet Union, which plans to begin its first trials with the digital ruble earlier this year.
One of the largest bitcoin miners in the world is still wondering if he needs a central bank digital currency.
news
Kazakhstan, one of the largest countries in the world in terms of bitcoin hash power (BTC), continues to research a potential central bank digital currency (CBDC).
According to the local news agency Kazinform, the National Bank of Kazakhstan has completed the development of a prototype for its digital tenge platform.
The central bank is currently preparing to announce the preliminary results of the digital currency experiment and the CBDC pilot on December 15, Dosayev said. He noted that domestic financial companies and a number of international partners participated in the pilot project.
Despite active CBDC tests, Kazakhstan still has to decide whether to introduce a digital representation of its national currency. According to Dossaev, the Central Bank should make such a decision in December 2022.
According to the governor, the National Bank of Kazakhstan is paying increasing attention to the development of CBDCs abroad, as more and more countries around the world are developing their own digital currencies.
On the subject: Bitcoin Mining Energy Crisis: Kazakhstan Towards a Nuclear Solution
Kazakhstan began public consultations on a potential CBDC in May 2021 after local authorities began considering a national digital currency last year.
Kazakhstan’s approach to CBDC implementation follows a similar plan from Russia, a country in the former Soviet Union, which plans to begin its first trials with the digital ruble earlier this year.
