President Kassym-Jomart Tokayev has officially approved a decree aimed at forming 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, sets a course for the systemic integration of crypto assets into the country's economy.
The key element of the decree is the creation of a legal framework for using digital assets and stablecoins in cross-border settlements. This opens regulated channels for businesses to conduct export-import operations, which is particularly relevant given the sanctions pressure on traditional financial flows. In essence, Kazakhstan is positioning itself as a jurisdiction ready to offer alternative payment routes based on blockchain.
Particular attention should be paid to the section dedicated to the legalization of previously unregulated operations. The authorities propose voluntary disclosure of digital assets held on foreign unregulated platforms, followed by their transfer to platforms of domestic providers. For individuals, an exemption from individual income tax on income from digital asset transactions conducted through Kazakhstan's regulated infrastructure is provided. This is a powerful incentive for capital repatriation to the jurisdiction.
A separate provision of the decree concerns mining. It permits the use of associated petroleum and natural gas for autonomous electricity generation, which can be directed towards cryptocurrency mining if the resources are not needed for state purposes. This not only reduces the environmental burden of gas flaring but also provides miners with a cheap energy resource.
Additionally, the decree stimulates the development of tokenized financial instruments and the national trading blockchain infrastructure. The implementation of all initiatives will be formalized in a separate action plan with clear deadlines and responsible executors.
Expert comment: Kazakhstan is consistently becoming one of the key players in the post-Soviet space in the field of regulated digital assets. The combination of tax incentives, legalization of mining using associated gas, and an ambitious plan to create a crypto reserve of up to $1 billion (announced by the Central Bank in autumn 2025) forms a unique investment climate. This could become a catalyst for an influx of both institutional and retail capital into the region.