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Kazakhstan working on a digital version of its national currency

The National Bank of Kazakhstan has announced that it is working on creating a digital version of its national currency. As part of the first step towards this aim, the National Bank is in the process of analyzing similar projects in other countries, especially China and Sweden. Specifically, they are studying how the introduction of a digital national currency impacts monetary policies as well as what technological, infrastructure and legislative support is required. The National Bank is also working to understand how a digital currency is likely to be used in the country (i.e. for retail settlements, for interbank settlements or both).

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