Kazakhstan eyes crypto payments via QR code; central bank reviews currency support measures

Kazakhstan is considering a significant shift in its digital payment landscape, with Deputy Prime Minister Zhaslan Madiyev commenting positively on the potential for cryptocurrency payments facilitated by QR codes. This move signals a growing interest in exploring digital assets within the country's financial framework.

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I believe it is high-quality

In parallel, the National Bank of Kazakhstan is reviewing its support measures for the national currency, the tenge. Chairman Timur Suleimenov indicated plans to potentially scrap requirements for quasi-public sector entities to sell foreign currency, suggesting a move towards greater market-driven exchange rate management. Suleimenov also explained the recent strengthening of the tenge against the dollar, attributing it to various economic factors.

Beyond financial news, Kazakhstan is seeing developments in urban infrastructure and facing environmental challenges. Construction continues on the Light Rail Transit (LRT) system in Astana, with new details emerging about the "Alatau City" project, which aims to incorporate a digital twin and smart district concepts inspired by South Korean expertise. Tokenization projects and urban air mobility are also part of the futuristic vision for the city.

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There is no crisis now

Meanwhile, forecasters are issuing warnings for extreme heat across Kazakhstan, with temperatures expected to reach up to +45°C in some regions. A storm warning has also been issued for July 10, highlighting a high fire risk. The country also experienced an earthquake in the Zhambyl region during the night of July 10. President Kassym-Jomart Tokayev has also appointed new ambassadors to several countries.

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It removes a number of issues from the agenda