For this, according to him, it is necessary to create the required legislative framework.
"The planning and execution of the state budget largely depend on the effectiveness of measures to control inflationary processes. The National Bank and the government will have to make bold, unconventional, but measured decisions. In the context of a rapidly changing global economic situation, the time for template-based actions has long passed. Therefore, the measures taken must correspond to the new serious challenges," said the President at an expanded government meeting.
The head of state reminded that in his Address, he spoke about the need to change the approaches to the circulation of digital assets.
"In our case, such assets can only be legally traded on the basis of cryptocurrency exchanges of the IFCA. At the same time, according to experts' estimates, only 5 percent of Kazakhstani crypto investors use the center's platform, while the rest operate in the so-called 'gray zone'. There is an urgent need to create infrastructure for a broader legal circulation of digital assets. Financial regulators must work on forming the appropriate legislative framework," added Tokayev.