Police in Russia have arrested an alleged creator of a crypto pyramid scheme from Kazakhstan who was facing an international arrest warrant, Russia’s Ministry of Internal Affairs (MOI) officially reported on May 28. The unnamed detainee is reportedly accused of defrauding investors using a scam crypto scheme promising high returns from crypto investments, involving a group of criminals. The MOI reported at least 300 fraud cases allegedly connected with the pyramid scheme, with one of the investors having reportedly lost around 14 million Kazakhstan tenge ($36,700) to the criminals. According to the report, the intruder fled Kazakhstan in early 2019 …

Blockchain tech giant Bitfury partnered with major Kazakhstan-based financial hub to apply the technology across multiple industries, local government-backed newspaper The Astana Times reports on May 21. Headquartered in Nur-Sultan, the newly renamed capital of Kazakhstan, the Astana International Financial Centre (AIFC) will apply Bitfury’s blockchain expertise in creating projects and promoting new startups on a global scale. In turn, Bitfury plans to launch data centers in Kazakhstan to gain exposure and cooperate with the Nur-Sultan city administration, as well as support the development and promotion of distributed ledger technology (DLT) in the region. The blockchain firm is also planning …

The system for managing waiting lists to kindergartens in the the Kazakh capital of Astana will implement blockchain technology in the beginning of February, local news website Elorda Info reports Tuesday, Jan. 29. In Kazakhstan, parents must apply to have their child accepted to a local kindergarten, which results in waiting lists for certain schools. Queues for kindergartens are managed in accordance with federal law under the Standard of State Service. Priority is given to children whose legal representatives are disabled; children without parental care; children from large families; and children with special educational needs. According to Alisher Abdykadyrov, head …

Russia's Ministry of Finance (MinFin) believes that the creation of a Eurasian Economic Union (EAEU)-backed digital currency is inevitable due to the United States’ sanctions. Major Russian media agency Rambler reported MinFin’s comments on Friday, Dec. 21. MinFin reportedly sees an opportunity for launching a digital currency backed by countries in the EAEU by 2020 or 2021, as deputy finance minister Alexei Moiseev revealed. The Eurasian Union was established in 2014 and includes five member countries: Belarus, Kazakhstan, Russia, Armenia and Kyrgyzstan. The announced digital currency project will be most likely implemented without using blockchain technology, Moiseev stated, as reported …

As been reported on September 2, the president of Uzbekistan, Shavkat Mirziyoyev, ordered the establishment of a state blockchain development fund called the "Digital Trust." Earlier in September, a decree legalizing crypto trading — also making it tax-free — and mining in the country came into force, making Uzbekistan a crypto-friendly state. But how is the rest of the Central Asia region is holding up? The list below is based on thorough news research, but should in no way be considered complete. If you have more detailed information on banks and the crypto relationship in your country, we encourage you …

The governor of Kazakhstan’s main financial hub has stated that while cryptocurrencies must be regulated, crypto and blockchain innovation will be supported, local news outlet Kazinform reports today, June 14. Speaking at the “Blockchain Conference Astana,” the Astana International Financial Center’s (AIFC) governor Kairat Kaliyev said specifically that the AIFC is paying special attention blockchain and cryptocurrencies: “The problem of regulation of cryptocurrencies is being discussed very intensively. The AIFC has a solid position on this issue – it is crucial to regulate the circulation of cryptocurrencies.” According to Kazinform, the AIFC’s Regulatory Authority plans to approve rules for crypto …

Kazakhstan’s President Nursultan Nazarbayev has called for global cooperation for cryptocurrency regulation, local news outlet Azernews reported May 17. Speaking at the plenary session of the Global Challenges Summit 2018, Nazarbayev stated that “most countries are actively exploring the possibility of adapting cryptocurrency to the current configuration of financial systems.” He then continued with a comment on the fragmented nature of crypto regulation globally: “At the same time, we see completely separate actions of states in this issue. And these disparate actions will lead to inefficiency. It is necessary to start developing common rules.” Kazakhstan has already proven its interest …

A study by Yandex, a multinational corporation for Internet services, showed that Kazakhstanis have been searching for a variety cryptocurrency-related terms in frequency and amount several times higher this year as compared to 2017, local news outlet zakon.kz reported March 2. The study shows that the increase in interest began in June of last year and rose in September, with Kazakhstanis asking Yandex more questions like “what is Bitcoin/Blockchain/ICO/mining?” The study notes that “what is Bitcoin” was asked the most in December 2017, when Bitcoin’s price hit $20,000. Other search queries popular in Kazakhstan include, “can students work with Bitcoin?” …