Kazakhstan to Legalize Crypto Investing While Banning Crypto Payments
Kazakhstan is moving to allow cryptocurrency investing but will ban crypto as a method of payment, according to new proposals tied to an updated banking law. The legislation will set out comprehensive rules for creating and operating crypto exchanges, which will be supervised by the central bank in Astana. Regulators say the split approach aims to open investment opportunities while maintaining control over monetary transactions.
The change offers clearer legal footing for investors and licensed platforms, which could attract capital and bring previously informal activity into the regulated financial sector. At the same time, the payments ban and central bank oversight are designed to limit risks to monetary policy, consumer protection, and financial crime. For market participants, the move signals Kazakhstan’s intent to balance innovation with tighter transactional controls, potentially encouraging compliant exchange operators to apply for licenses.