Karim Xanzheza, a member of Kyrgyzstan’s Parliament, believes his country is well-positioned to benefit from the growing popularity of crypto and digital assets. “Nothing grows as fast as cryptocurrencies,” he went on to say. As a result, he advised the government to concentrate on the development of its own national digital currency.
Karim Xanzheza, Kyrgyzstan’s Deputy of Parliament, is the most recent politician to express support for cryptocurrencies. He, like other proponents, underlined the asset class’s tremendous advancement and the rising popularity of bitcoin, ether, and other coins among the general public. During his address, he stated, “Nothing grows as fast as cryptocurrency.”
Xanzheza asked local legislators to provide a legal framework for the market, proposing bill revisions to cover digital assets. Another characteristic, in his opinion, that could help Kyrgyzstan’s economy is the establishment of a national cryptocurrency. He chastised the country’s central bank for failing to support similar projects in recent years.
Furthermore, the legislator pushed for enlisting experienced experts in the field to assist Kyrgyzstan’s crypto efforts. The United Arab Emirates has already started the process of adoption, establishing an autonomous authority to govern its business. The unit coordinates the functioning of digital asset platforms, including transaction monitoring and price manipulation prevention.
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