President Kassym-Jomart Tokayev signed a decree "On measures to stimulate and develop the digital asset industry in the Republic of Kazakhstan." This document is not just another bureaucratic initiative, but a clear signal to the market: Astana intends to create a full-fledged and transparent ecosystem for digital financial services, and to do so at the state level.
Key directions of the decree
The document, prepared by the Ministry of Artificial Intelligence and Digital Development in collaboration with the National Bank and the Astana International Financial Centre, covers several aspects critical to the industry. First and foremost, it concerns the legalization of using digital assets and stablecoins in cross-border settlements. Authorities see this as a tool for expanding businesses' export-import operations within a regulated framework — a step that could significantly simplify foreign economic activity.
Bringing crypto assets out of the shadows
A separate section of the decree focuses on bringing crypto asset transactions into the legal framework. It provides a mechanism for the voluntary disclosure of digital assets previously held on foreign unregulated platforms, followed by their transfer to domestic provider platforms. This is an amnesty, but with a clear goal — to attract capital into the country's legal infrastructure.
Tax incentives for individuals
For individuals, an exemption from individual income tax on income from digital asset transactions is provided, provided these transactions are conducted through regulated Kazakh infrastructure. This is a powerful incentive for retail investors to switch to local platforms.
Mining and energy
Special attention is given to mining. The decree permits the use of associated petroleum and natural gas at fields for autonomous electricity generation, which can be directed towards cryptocurrency mining — provided the resources are not required for state needs. This decision addresses two issues at once: utilization of associated gas and powering mining capacities.
Development of tokenization and blockchain infrastructure
The decree also includes the development of tokenized financial instruments (RWA) and a national trading blockchain infrastructure. The implementation of all these initiatives will be enshrined in a separate action plan with specific deadlines and responsible executors.
Context: a $1 billion crypto reserve
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 decree is a logical continuation of that strategy, turning Kazakhstan into one of the key players in the post-Soviet space in the field of digital assets.
My comment: Kazakhstan is consistently implementing a strategy that can be called "soft legalization with strict control." Tokayev's decree is not just permission, but the creation of infrastructure that will allow the state to manage digital asset flows, collect tax revenues, and simultaneously stimulate innovation. The point about associated gas for mining is particularly interesting — it turns energy costs into a competitive advantage. If the plan is executed, Kazakhstan could become a regional hub for legal crypto turnover.