Next changes in the crypto market

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Around the world, a crypto market is changing day by day. During the last few years, the crypto economy has developed very quickly and became the most innovative system on the financial market. As we know from our previous articles, China is going to ban a Bitcoin. What’s more, China’s considering trading in cryptocurrencies as illegal. In contrast to this, other countries contemplate creating their cryptocurrency.

In August, Estonia introduced an idea to develop state-backed digital asset with a name as Estcoin. Japan’s answer was to build J-coin market. Now, Kazakhstan is also thinking about joining the market. They already have Bitcoin ATM, three online shops and an official agency that accept Bitcoin payments. It doesn’t stop them to think about further actions. On Tuesday (17.10.2017), Kazakhstan – supported by Astana International Finance Center (AIFC) – signed an agreement of cooperation with Maltese company Exante (an investment company).

Kazakhstan’s blockchain platform designed by Exante will be called Stasis. They’ve already started creating the legal regulations. The goal of the AIFC is to become an international center for blockchain operations.

At this moment there is no information about lunch of Kazakhstan cryptocurrency, but a significant fact is the currency will be government-backed. As co-founder of Exante, Anatoly Knyazev claims “development of such a system will bridge the gap between the traditional asset market and the crypto-world,” so our advice is to have eyes open and be ready for the next changes.

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