Kassym-Jomart Tokayev, President of Kazakhstan, has signed a decree aimed at stimulating and developing the digital asset industry in the republic. The document, titled "On measures to stimulate and develop the digital asset industry in the Republic of Kazakhstan," aims to create a "modern and transparent ecosystem of digital financial services."
The decree was developed by the Ministry of Artificial Intelligence and Digital Development jointly with the National Bank and the Astana International Financial Centre. This indicates a comprehensive approach by the authorities to regulating the sector.
Key Initiatives: From Cross-Border Payments to Mining
One of the central points of the decree is the development of mechanisms for using digital assets and stablecoins in cross-border settlements. Kazakhstan seeks to provide businesses with new channels for export-import operations within a regulated framework. This is particularly relevant amid geopolitical tensions and the search for alternative payment solutions.
A separate set of measures is aimed at legalizing transactions with crypto assets. The authorities propose voluntary disclosure of digital assets previously held on foreign unregulated platforms, followed by their transfer to platforms of domestic providers. For individuals, exemption from individual income tax on income from digital asset transactions through regulated Kazakh infrastructure is provided. This is a powerful incentive for the return of capital to the country.
The decree also touches on the mining sector. It provides a mechanism for using associated petroleum and natural gas at fields for autonomous electricity generation. This energy can be directed towards cryptocurrency mining, provided that the resources are not required for state needs. This will allow for the monetization of previously unused energy resources.
In addition, 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 specific deadlines and responsible executors.
Recall that in the fall of 2025, the Central Bank of Kazakhstan already announced the formation of a state crypto reserve worth between $500 million and $1 billion. This decree is a logical continuation of systematic work to integrate digital assets into the country's economy.
My expert opinion: Kazakhstan is consistently moving towards the status of one of the most progressive jurisdictions in the field of digital assets in the post-Soviet space. The combination of tax benefits for individuals, the legalization of mining on associated gas, and plans to create a crypto reserve creates a unique ecosystem. However, success will depend on how flexible the regulatory mechanisms turn out to be and whether the country can attract real technology companies, rather than just speculative capital.