China-Backed 'Crypto City' Planned in Kazakhstan
Kazakhstan plans to build what officials are calling Central Asia’s first dedicated “crypto city,” with support reportedly secured from partners in China. Local authorities say the project is intended to concentrate mining operations, blockchain development and related services in a single zone to boost jobs and foreign capital. Details on the size, timeline and financing remain limited, but officials portray the plan as a strategic push to formalize and expand the country’s crypto ecosystem.
The announcement matters because Kazakhstan has been a major mining hub since China’s 2021 crackdown, offering cheap energy and infrastructure attractive to miners. Chinese backing could bring additional capital, technology and links to broader Belt and Road economic networks, while also raising questions about regulatory oversight and energy demand. Markets and policymakers will be watching for concrete permits, environmental safeguards and the deal’s commercial structure before judging its long-term impact.