[ad_1]
Kazakhstan is one of the largest sources of Bitcoin mining power, and it released the results of its digital tenge pilot program.
According to a report on Wednesday, the National Bank of Kazakhstan (NBK), Say It has confirmed the possibility of implementing a retail central bank digital currency or CBDC based on distributed ledger technology. In addition, the central bank also tested how citizens of Kazakhstan use digital tenge for offline payments and their programmability.
In a series of hypothetical scenarios, the central bank tested how to use CBDC between secondary banks and other external participants. The test also explored how digital tenge can be used for cross-border transactions under the Kazakhstan regulatory framework.
The results of the report recommend expanding the CBDC pilot program to include market participants and infrastructure participants in different scenarios, and recommend the clarification language used by the country’s regulators. In addition, the bank proposed to launch a Digital Tenge Hub to allow market participants to assist in the development of CBDC.
“The National Bank of the Republic of Kazakhstan will ensure that the final model is developed to decide on the introduction of [digital tenge] And in July 2022 to show all stakeholders the mid-term results of the research and discussion,” the report said. “Decisions on needs [digital tenge] Taking into account the final result of the comprehensive research based on the development model, it will be launched in December 2022. “
related: The Senate of Kazakhstan approves legislation regulating crypto service providers
Kazakhstan initially conducted a public consultation on the possible digital tenge in May, when the central bank stated that CBDC would not replace cash or cashless payments.Since then, many crypto miners who have fled China’s regulatory crackdown Open a shop in Kazakhstan, Lead to Extra income report And the pressure that the country’s power grid may face.
[ad_2]
Source link
