Presidential Decree Signed: Kazakhstan’s Digital Asset Market to Receive New Impetus for Growth
On July 7, President of the Republic of Kazakhstan Kassym-Jomart Tokayev signed the Decree “On Measures to Stimulate and Develop the Digital Asset Industry in the Republic of Kazakhstan.” The document was developed jointly by the National Bank of Kazakhstan, the Ministry of Artificial Intelligence and Digital Development, the Astana International Financial Centre (AIFC), and relevant government authorities.
The Decree is designed to create a favorable legal and economic environment for the development of Kazakhstan’s digital asset sector, enhance the investment attractiveness of the industry, and strengthen protections for market participants. Its adoption marks the start of the practical implementation of several initiatives to support the continued growth of a modern and competitive digital asset ecosystem, expanding opportunities for participants in Kazakhstan’s crypto industry.
Commenting on the Decree, Renat Bekturov, Governor of the AIFC, said: “President Kassym-Jomart Tokayev places significant emphasis on the practical application of emerging technologies in Kazakhstan’s economy, including the development of digital financial assets. We have already seen tangible progress in this area: the pilot regulatory framework established within the AIFC and the subsequent development of supporting infrastructure have delivered positive results, while the introduction of regulation within the national jurisdiction has marked a new stage in the evolution of Kazakhstan’s digital asset market.
In this context, we expect the Decree to have a positive impact on the sector’s continued development. It is important to recognise that regulation is not only about setting rules and exercising oversight; above all, it is about creating a safe, transparent, and competitive environment for service providers and their clients. The measures introduced by the Decree are specifically aimed at achieving these objectives.”
Among the key initiatives is the planned recognition within the territory of the Republic of Kazakhstan of digital assets and tokenised securities issued under the AIFC jurisdiction. This will create a level playing field for issuers regarding the circulation and use of such instruments.
The Decree also envisages the use of stablecoins issued by AIFC-licensed issuers for cross-border settlements related to export and import transactions conducted by non-residents of Kazakhstan.
Another important development is the introduction of a mechanism that allows, where legally justified, the restriction of individual client accounts, rather than the current practice of restricting the bank accounts of digital asset service providers.
It is also intended to develop tax incentives to encourage the transfer of digital assets from foreign platforms to regulated platforms operating in Kazakhstan. In addition, measures will be introduced to facilitate the voluntary disclosure of previously acquired or mined digital assets, provided they are transferred into a regulated infrastructure.
This initiative represents a logical next step in the development of the market, helping to formalise the industry and consolidate Kazakhstan’s digital asset users within a regulated environment. Its implementation will encourage users to transition to regulated platforms operating either within the AIFC or the national jurisdiction, while enhancing client protection through mandatory standards for asset custody, cybersecurity, and risk management. These measures are expected to improve market transparency and strengthen confidence among market participants.
The AIFC will actively participate in implementing the Presidential Decree, in cooperation with relevant government authorities, to support the sustainable development of Kazakhstan’s digital asset industry.
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and business meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. aifc.kz
AIFC Press Office
Ainur Issabayeva, Press secretary
E-mail: [email protected]
