{"id":528791,"date":"2022-12-18T10:40:00","date_gmt":"2022-12-18T07:40:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kazakhstan-central-bank-recommends-a-phased-cbdc-rollout-between-2023-25\/"},"modified":"2022-12-18T10:40:00","modified_gmt":"2022-12-18T07:40:00","slug":"kazakhstan-central-bank-recommends-a-phased-cbdc-rollout-between-2023-25","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kazakhstan-central-bank-recommends-a-phased-cbdc-rollout-between-2023-25\/","title":{"rendered":"# Kazakhstan central bank recommends a phased CBDC rollout between 2023-25"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e991d8cbf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e991d8cbf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/kazakhstan-central-bank-recommends-a-phased-cbdc-rollout-between-2023-25\/#%E2%80%9D_Kazakhstan_central_bank_recommends_a_phased_CBDC_rollout_between_2023-25_%E2%80%9C\" >&#8221; Kazakhstan central bank recommends a phased CBDC rollout between 2023-25 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Kazakhstan_central_bank_recommends_a_phased_CBDC_rollout_between_2023-25_%E2%80%9C\"><\/span>&#8221; Kazakhstan central bank recommends a phased CBDC rollout between 2023-25 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvMjVhNjI0NDQtNTY3Ny00ZTI0LTgwMDYtMzljYTBjYjJiZTNjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>Kazakhstan, the world\u2019s third-largest Bitcoin (BTC) mining hub after the United States and China, found feasibility in launching its in-house central bank digital currency (CBDC), a digital tenge. The National Bank of Kazakhstan (NBK) revealed the finding following the completion of the second phase of testing.\u00a0<\/p>\n<p>In late October, Binance CEO Changpeng&#8217; CZ&#8217; Zhao announced that Kazakhstan&#8217;s CBDC would be integrated with BNB Chain, a blockchain built by the crypto exchange. The country&#8217;s primary motivation for conducting studies on CBDC was to test its potential to improve financial inclusion, promote competition and innovation in the payments industry and increase the nation&#8217;s global competitiveness.<\/p>\n<p>The pilot research\u00a0focused on offline payments and programmability\u00a0recommended the inclusion of market participants and infrastructure players for different scenarios and proposed clarifying language to be used by the country\u2019s regulators. The latest research <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nationalbank.kz\/file\/download\/85770\">paper<\/a> cemented Kazakhstan\u2019s intent to roll out the digital tenge. A rough translation of the report reads:<\/p>\n<blockquote><p>\u201cTaking into account the need for technological improvements, infrastructure preparation, development of an operating model and a regulatory framework, it is recommended to ensure a phased implementation over three years.\u201d<\/p><\/blockquote>\n<p>Kazakhstan\u2019s central bank recommended making the in-house CBDC available as early as 2023 with a phased expansion of functionality and introduction into commercial operation until the end of 2025.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance signs MoU with Kazakhstan to fight financial crime<\/em><\/strong><\/p>\n<p>As many Russians crossed the border into the neighboring borders amid war-related uncertainties, Kazakhstan announced to legalize a mechanism for converting cryptocurrencies to cash.<\/p>\n<p>\u201cWe are ready to go further. If this financial instrument shows its further relevance and security, it will certainly receive full legal recognition,\u201d said President Kassym-Jomart Tokayev while speaking at the international forum Digital Bridge 2022.<\/p>\n<p>As Cointelegraph reported, the neighboring country of Georgia has also been moving to introduce new crypto regulations to become a global crypto hub.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/kazakhstan-central-bank-recommends-a-phased-cbdc-rollout-between-2023-25\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Kazakhstan central bank recommends a phased CBDC rollout between 2023-25 &#8220; Kazakhstan, the world\u2019s third-largest Bitcoin (BTC) mining hub after the United States and China, found feasibility in launching its in-house central bank digital currency (CBDC), a digital tenge. The National Bank of Kazakhstan (NBK) revealed the finding following the completion of the second&#8230;<\/p>\n","protected":false},"author":1,"featured_media":528792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/25a62444-5677-4e24-8006-39ca0cb2be3c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75046,75022,77672,74355,117,76242],"class_list":["post-528791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cbdc","tag-central-bank","tag-changpeng-zhao","tag-adoption","tag-business","tag-kazakhstan"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=528791"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/528791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/528792"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=528791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=528791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=528791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}