The Ministry of Finance of the Republic of Kazakhstan has announced its intention to improve the tax administration system using the blockchain technology, according to the Vlast edition.
Bakhyt Sultanov, the Minister of Finance, has recently reported that the Ministry is going to focus on exploring cryptocurrencies and experience of their integration in various countries. However, he believes that there is still a risk of financial frauds using cryptocurrencies.
The Ministry of Finance has both followers and opponents of the cryptocurrency integration at the government level. Nevertheless, it has already started examining existing approaches and related technologies, including the blockchain.
According to Bakhyt Sultanov, specialists have proceeded to study this opportunity.
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