President of Kazakhstan Kassym-Jomart Tokayev has signed a landmark 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 jointly with the National Bank and the Astana International Financial Centre, sets a clear direction for the legalization and stimulation of the crypto industry in the country.
A key point of the decree is the development of mechanisms for using digital assets and stablecoins in cross-border settlements. This opens new channels for businesses to conduct export-import operations within a regulated framework, which is especially relevant amid sanctions pressure and the search for alternative financial routes. This is not just about recognizing cryptocurrencies, but about creating a full-fledged tool for international trade.
Special attention is paid to bringing crypto asset transactions into the legal field. The authorities propose voluntary disclosure of digital assets 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 conducted through regulated Kazakh infrastructure is provided. This is a powerful incentive for capital repatriation and attracting new market participants.
The decree also affects the mining industry. The mechanism for using associated petroleum and natural gas for autonomous electricity generation will allow resources to be directed towards cryptocurrency mining if they are not needed for state needs. This solution addresses several tasks simultaneously: gas utilization, reducing environmental impact, and supporting the energy-intensive industry.
Furthermore, the document provides for the development of tokenized financial instruments and a national trade blockchain infrastructure. The implementation of all initiatives will be enshrined in a separate action plan with clear deadlines and responsible executors.
Expert opinion: Kazakhstan is consistently moving towards the status of a regional crypto hub. The combination of a digital asset amnesty, tax incentives, and integration with the real sector of the economy creates a unique model that other countries could also adopt. The emphasis on cross-border settlements is particularly interesting — this could become a "wild card" for the entire Eurasian economic integration.