Kraken Eyes Kazakhstan Market After Country Tightens Crypto Rules

Kraken’s parent company, Payward, has received in-principle approval to expand into Kazakhstan, a country that once controlled roughly 18% of global bitcoin mining activity. Thursday’s announcement positions the exchange to offer trading, investment services, and digital asset custody in a market that has shifted from attracting miners with cheap electricity to building a regulated cryptocurrency industry. Kazakhstan went from hosting nearly one-fifth of the world’s bitcoin (BTC) mining activity in 2021 to tightening oversight of its cryptocurrency industry. Now, Kraken’s parent company, Payward , is preparing to enter the Central Asian market.