Kazakhstan signs decree to regulate digital asset market
President Kassym-Jomart Tokayev signed a decree to create a regulated digital asset market, introducing stablecoin cross-border rules, tax incentives and new energy options for mining.
President Kassym-Jomart Tokayev has signed a decree to create a regulated digital asset market in Kazakhstan, the Ministry of Artificial Intelligence and Digital Development announced. The document, prepared with the central bank and the Astana International Financial Centre, sets rules for using stablecoins in cross-border settlements and aims to clarify operations for crypto businesses, investors and digital asset service providers.
The decree encourages holders of digital assets kept abroad to disclose those holdings and transfer them to licensed domestic service providers. For individuals, the government proposes tax incentives for activity conducted through regulated infrastructure, including a proposed exemption from personal income tax on related income.
Energy provisions allow associated petroleum gas and natural gas from oil and gas fields to be used to generate electricity autonomously when those fuels are not required for state purposes. That electricity may be allocated to data centers and digital mining operations. A “70/30” model permits data centers and miners to access up to 70% of new power generation capacity created through infrastructure upgrades.
The order directs development of tokenized financial instruments and a national trading infrastructure designed to attract digital asset investment and institutional participation. Authorities say the package is intended to increase transparency and regulatory certainty for market participants.
“Our goal is to make Kazakhstan a point of attraction for global capital and expertise while ensuring maximum transparency and protection for every participant in this market,” MAIDD Minister Zhaslan Madiyev added.
Kazakhstan was estimated to rank third globally by Bitcoin mining hash rate in 2022, according to the Cambridge Centre for Alternative Finance. The decree does not include a full timetable for implementation; ministries and financial authorities will develop further rules and technical standards.
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