The National Bank of Kazakhstan is preparing a set of proposals for regulating the turnover of cryptocurrencies in the country.

It was stated by the head of the National Bank Daniyar Akishev.

He noted that the legal status and nature of cryptocurrencies in Kazakhstan has not yet been determined.

"There are many definitions of what is cryptocurrency. People, journalists and sometimes even officials are confused. But we are inclined to believe that cryptocurrency operations of individuals must somehow be limited because we see speculative risks related to them," Akishev said.

According to him, at the moment there is no specific cryptocurrency that Kazakhstan could trust.

"They do not have a single emission center or determined regulator," he said.

Daniyar Akishev also added that amendments to the legislation will be developed to regulate the cryptocurrency market. The new regulation should be discussed by the National Bank and governmental officials soon, reports Tengri news.