Kazakhstan Central Bank Targets Overly Restrictive Crypto Banking Practices

Kazakhstan's central bank governor, Timur Suleimenov, has called on banks to target specific risks rather than block every account belonging to a licensed digital asset provider.

The National Bank of Kazakhstan wants more transactions, liquidity and capital to remain within the country, proposing consistent financial monitoring rules, competitive tax treatment and greater use of digital instruments to finance businesses and infrastructure.

Suleimenov criticized what he described as banking 'overcompliance', an excessively restrictive approach to screening customers and transactions.