Kazakhstan

Kazakhstan’s monetary authority says a state-run custodial platform for crypto assets will be launched within weeks to legalize and broaden digital-asset circulation. The move follows the country’s rise as a major global cryptocurrency mining hub.

Kazakh officials say the country will develop Central Asia’s first dedicated “crypto city” with backing recently secured in China, aiming to attract miners, developers and investors. The move could deepen regional crypto infrastructure and investment ties.

Kazakhstan’s central bank says $350 million from gold and foreign currency reserves will be used for cryptocurrency investments, managed by a central-bank entity and routed via indirect channels. The move signals cautious state-backed engagement with digital assets while limiting direct exposure.

Kazakhstan’s government says it is intensifying enforcement against unlawful cryptocurrency transactions and the use of digital assets to move capital abroad. Authorities are signaling tougher scrutiny of exchanges, miners and cross-border transfers.

President Kassym-Jomart Tokayev has signed rules creating licensed cryptocurrency exchanges and giving the central bank the authority to approve which digital assets can be traded. The move narrows the pool of tradable tokens and raises compliance requirements for market participants.

Kazakh financial regulators say they blocked access to more than 1,000 online platforms offering crypto exchange services over the past year. The move is part of a push to build a formal regulatory framework and grow the licensed crypto market.

Kazakh authorities plan to legalize cryptocurrency investments but will prohibit using digital assets for payments, while a new banking law will regulate exchanges under central bank oversight.

Kazakhstan’s central bank said it is prepared to allocate up to $300 million to purchase crypto assets, the governor told reporters on Nov. 29, 2025. The announcement marks a notable state-level engagement with digital assets.

President Kassym-Jomart Tokayev approved changes to AI and digitalization laws on Nov 17, 2025, permitting crypto mining and trading outside the Astana International Financial Center. The reform expands legal clarity nationwide and could attract investment while raising implementation and energy-management questions.