President Kassym-Jomart Tokayev has officially approved a decree aimed at stimulating and developing the digital asset industry. The document, prepared by the Ministry of Artificial Intelligence and Digital Development in collaboration with the National Bank and the Astana International Financial Centre, is designed to create a "modern and transparent ecosystem of digital financial services" in the country.
Cross-Border Settlements and Stablecoins
A key block of the decree involves developing mechanisms for using digital assets and stablecoins in cross-border settlements. The authorities intend to provide businesses with additional channels for export-import operations within a regulated framework. This is a logical step for a country seeking to diversify its economy and reduce dependence on traditional financial systems.
Legalization and Tax Incentives
Special attention is given to bringing crypto asset operations into the legal framework. It provides for the voluntary disclosure of digital assets previously held on foreign unregulated platforms, followed by their transfer to platforms of domestic providers. For individuals, it is planned to exempt income from operations through regulated Kazakh infrastructure from personal income tax — a powerful incentive for returning capital to the country.
Mining Using Associated Gas
The decree also paves the way for using associated petroleum and natural gas at fields for autonomous electricity generation, directed towards cryptocurrency mining. This solution addresses two tasks simultaneously: utilization of resources that were previously flared and providing energy for an energy-intensive industry. However, it is important that this mechanism does not create a deficit for state needs.
Tokenization and Infrastructure
The document includes the development of tokenized financial instruments and a national trading blockchain infrastructure. The implementation of all initiatives will be enshrined in a separate action plan with clear deadlines and responsible executors.
I recall that in the fall of 2025, the Central Bank of Kazakhstan announced the formation of a state crypto reserve worth between $500 million and $1 billion. This step, combined with the new decree, indicates Astana's strategic course towards integrating digital assets into the economy. In my opinion, Kazakhstan could become one of the first states where the crypto industry receives not just regulation, but real incentives for growth, which will attract international players and capital.