Kassym-Jomart Tokayev has officially enacted a decree aimed at creating a "modern and transparent ecosystem of digital financial services." The document, developed by the Ministry of Artificial Intelligence and Digital Development in collaboration with the National Bank and the Astana International Financial Centre, marks a systematic approach to integrating the crypto industry into the country's economy.
Legalization and Tax Incentives
One of the key components is bringing crypto asset transactions into the legal framework. It provides for the voluntary disclosure of digital assets held on foreign unregulated platforms and their transfer to platforms of domestic providers. For individuals, this means exemption from individual income tax on income from digital asset transactions if the deals are conducted through Kazakhstan's regulated infrastructure.
Cross-Border Settlements and Stablecoins
The decree directly impacts foreign economic activity. Mechanisms for using digital assets and stablecoins in cross-border settlements are being developed. According to the authorities' plan, this will provide businesses with additional channels for export-import operations within a regulated framework, which is particularly relevant given the restrictions of traditional payment systems.
Mining on Associated Gas
A separate provision concerns energy-intensive mining. The use of associated petroleum and natural gas at fields for autonomous electricity generation is permitted. This resource can be directed towards cryptocurrency mining if it is not required for state needs. This approach solves two problems at once: utilization of gas that is often flared and providing miners with cheap energy.
Tokenization and Blockchain Infrastructure
The document also lays the groundwork for the development of tokenized financial instruments (RWA) 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.
Expert Commentary. Kazakhstan is consistently moving towards the status of a regional crypto hub. The combination of tax incentives for private investors, legalization of mining on associated gas, and plans to create a state crypto reserve (from $500 million to $1 billion, announced by the Central Bank in autumn 2025) forms a unique ecosystem. However, the key challenge will remain the balance between stimulating the industry and strict control—it is this that will determine whether the country can attract capital without scaring it away with excessive regulation.