{"source":"Four Pillars Asia Digital Asset Policy Center","source_url":"https://policy.4pillars.io","license":"Free to reuse with attribution. Credit \"Four Pillars Asia Digital Asset Policy Center\" and link to the page you cite (every record carries its own `url`). Primary sources remain the property of their issuers.","terms_url":"https://policy.4pillars.io/developers#attribution","data":{"id":"KZ","slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","region":"Central Asia","region_slug":"central-asia","status":"covered","status_label":"Full dossier","headline":"Crypto grew up inside the AIFC enclave; since May 2026 the National Bank also licenses onshore exchanges, stablecoins and tokens.","financial_centre":"Astana","snapshot":{"exchanges":{"name":"Exchange licensing","level":"comprehensive","label":"Comprehensive","rank":4,"note":"AFSA licenses exchanges in the AIFC; since May 2026 the NBK licenses onshore crypto exchange operators"},"stablecoins":{"name":"Stablecoin regime","level":"comprehensive","label":"Comprehensive","rank":4,"note":"NBK rules from May 2026 require KZT 200M equity and 100% reserves; AIFC rules cover fiat stablecoins"},"tokenization":{"name":"Tokenisation & RWA","level":"partial","label":"Partial","rank":3,"note":"DFA platforms registered by the NBK since May 2026; KASE was first; sandbox pilots on real estate and gold"},"retail":{"name":"Retail access","level":"comprehensive","label":"Comprehensive","rank":4,"note":"Retail may buy crypto via AFSA-licensed platforms and NBK-licensed exchanges; about 215,000 AIFC clients"},"tax":{"name":"Tax clarity","level":"partial","label":"Partial","rank":3,"note":"Miners pay an electricity-based digital mining fee; other crypto income falls under the general Tax Code"}},"counts":{"sources":27,"licences":5,"regulators":4},"last_reviewed":"2026-10-05","url":"https://policy.4pillars.io/kazakhstan","api_url":"https://policy.4pillars.io/api/v1/markets/kazakhstan","story":["Kazakhstan came to crypto through mining. Cheap coal power drew miners after China's 2021 ban, and the state answered with the Law on Digital Assets of 6 February 2023, which made mining a licensed activity and pushed crypto trading into the Astana International Financial Centre (AIFC). There the Astana Financial Services Authority (AFSA) runs a common-law style regime that licensed Binance Kazakhstan, Bybit, Intebix, ATAIX Eurasia and others. By the end of 2025 AFSA supervised 9 digital asset service providers under its full regime and 19 more in its FinTech Lab, serving about 215,000 clients and USD 10.58 billion of transactions that year.","The turning point came in 2025. President Tokayev's State of the Nation Address on 8 September 2025 called for a State Digital Assets Fund to hold a strategic crypto reserve and for crypto payments in the new Alatau City. A law of 17 November 2025 opened mining to companies and entrepreneurs outside the AIFC, and the Law of 16 January 2026 rewrote the Digital Assets Law to create digital financial assets (DFAs), money-backed stablecoins and tokenised real assets, with the National Bank of Kazakhstan (NBK) as the onshore regulator.","The onshore regime took effect on 1 May 2026. The NBK licenses crypto exchange operators and registers trading platforms and DFA platforms; stablecoin issuers need at least KZT 200 million of equity and 100% reserves before minting. The Kazakhstan Stock Exchange became the first registered DFA and trading platform on 19 May 2026, and Pax Finance received the first crypto exchange licence on 30 June 2026; by 2 October 2026 the NBK had licensed four exchange operators. A presidential decree of 7 July 2026 set the next stage: tokenised government bonds, stablecoins for cross-border payments, an approach to regulating DeFi and a planned income tax exemption for trades through Kazakh providers. On 18 July 2026 the government approved strategic mining rules under which participating miners contribute to the National Strategic Cryptoreserve, which had reached USD 700 million by September 2026.","For builders, Kazakhstan now offers two doors: the AIFC for international exchanges, custody and fiat stablecoins under English-law style rules, and the NBK for tenge-facing exchanges, stablecoins and tokenised assets aimed at the domestic market. The NBK sandbox has tested 34 projects, including a tenge stablecoin on Solana issued by Intebix in September 2025. In September 2026 the government and the NBK approved a joint action plan of 65 measures, so expect more licences, bank-issued tokens and new laws on stablecoin payments to shape 2026 and 2027."],"watch":["How many crypto exchange licences and platform registrations the NBK grants beyond the four exchange operators and KASE.","Bills due by the end of 2026 and early 2027 under Decree No. 1347: stablecoin payments, crypto custody, and an income tax exemption for trades via Kazakh providers.","Deployment of the USD 700 million National Strategic Cryptoreserve, about USD 200 million of it invested by September 2026, by the NBK Investment Corporation.","Uptake of strategic digital mining status under Government Resolution No. 638 and its contributions to the state reserve.","Launch of licensed tenge stablecoins under the NBK issuance rules and the Alatau City crypto payment pilot."],"key_numbers":[{"value":"USD 700M","label":"Size of the National Strategic Cryptoreserve","as_of":"2026-09-15"},{"value":"USD 10.58B","label":"Transaction volume of AIFC digital asset service providers in 2025","as_of":"2025-12-31"},{"value":"215,000","label":"Clients of AIFC digital asset service providers","as_of":"2025-12-31"},{"value":"KZT 200M","label":"Minimum equity for an NBK-regulated stablecoin issuer","as_of":"2026-05-01"}],"jurisdictions":null,"regulators":[{"id":"kz-nbk","abbr":"NBK","name":"National Bank of Kazakhstan","role":"Licenses crypto exchange operators and registers trading and DFA platforms outside the AIFC; regulates stablecoins.","remit":"Kazakhstan's central bank. It sets monetary policy, issues the tenge, oversees payment systems and manages the assets of the National Fund.","crypto":"Since 1 May 2026 it licenses crypto exchange operators (four by October 2026, Pax Finance first) and registers trading and DFA platforms (KASE first). Stablecoin issuers need KZT 200 million equity and 100% reserves; its investment corporation manages the USD 700 million National Strategic Cryptoreserve.","licences":["Unsecured digital asset exchange operator licence","Digital asset trading platform operator registration","Digital financial asset platform operator registration"],"jurisdiction":null,"source_url":"https://nationalbank.kz/en/page/digital-assets-legal-framework","url":"https://policy.4pillars.io/kazakhstan#regulators","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-afsa","abbr":"AFSA","name":"Astana Financial Services Authority","role":"Authorises and supervises digital asset service providers, trading facilities and stablecoin issuers inside the AIFC.","remit":"Independent financial regulator of the Astana International Financial Centre, a common law enclave in Astana. It authorises and supervises financial firms and markets operating in the AIFC.","crypto":"Licenses crypto exchanges, custody, dealing and fiat stablecoin issuers under the AIFC Rules on Digital Asset Activities, including Binance Kazakhstan and Bybit since September 2024. In 2025 it supervised 9 full licensees and 19 FinTech Lab firms with about 215,000 clients.","licences":["AIFC Digital Asset Service Provider licence (including Digital Asset Trading Facility)"],"jurisdiction":null,"source_url":"https://afsa.aifc.kz/","url":"https://policy.4pillars.io/kazakhstan#regulators","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-ardfm","abbr":"ARDFM","name":"Agency for Regulation and Development of the Financial Market","role":"Regulates digital financial assets other than stablecoins, and the banks and securities firms that deal in them.","remit":"Kazakhstan's supervisor of banks, insurers, securities firms and other financial institutions outside the AIFC, reporting directly to the President.","crypto":"Under the January 2026 amendments it regulates digital financial assets other than stablecoins, and the banks and securities firms that issue or deal in them. Crypto exchanges, platforms and stablecoins sit with the NBK.","licences":[],"jurisdiction":null,"source_url":"https://www.gov.kz/memleket/entities/ardfm?lang=en","url":"https://policy.4pillars.io/kazakhstan#regulators","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-maidd","abbr":"MAIDD","name":"Ministry of Artificial Intelligence and Digital Development","role":"Licenses digital mining and administers strategic digital miner status.","remit":"The government ministry for digital development, artificial intelligence, communications and e-government services.","crypto":"Licenses digital mining under the 2023 Digital Assets Law, opened beyond the AIFC in November 2025; grid connection rules for miners come from the Ministry of Energy. It administers strategic miner status under Resolution No. 638 of July 2026, which sends 10% of net mined assets to the state crypto reserve.","licences":["Digital mining licence"],"jurisdiction":null,"source_url":"https://www.gov.kz/memleket/entities/maidd?lang=en","url":"https://policy.4pillars.io/kazakhstan#regulators","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}}],"licences":[{"id":"kz-unsecured-digital-asset-exchange-operator-licence","name":"Unsecured digital asset exchange operator licence","regulator":{"abbr":"NBK","name":"National Bank of Kazakhstan","url":"https://nationalbank.kz/en/page/digital-assets-legal-framework"},"law":"Law on Digital Assets (as amended by Law No. 259-VIII of 16 January 2026)","covers":"Buying, selling and exchanging crypto for clients as a dealer, including exchange offices and crypto ATMs outside the AIFC.","requirements":["Joint-stock company or limited liability partnership incorporated in Kazakhstan","Charter capital of at least KZT 50 million","Fit-and-proper executives, founders and shareholders","Board-approved internal rules on custody, wallets, cybersecurity and client identification","AML/CFT and sanctions compliance programme"],"holders":4,"holders_as_of":"2026-10-05","notable_holders":["Pax Finance","AUSU","Senim Digital Finance","Impact Finance"],"register_url":"https://nationalbank.kz/ru/page/unsecured-asset-exchange-operators","jurisdiction":null,"url":"https://policy.4pillars.io/kazakhstan/licences#lic-1","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-digital-asset-trading-platform-operator-registration","name":"Digital asset trading platform operator registration","regulator":{"abbr":"NBK","name":"National Bank of Kazakhstan","url":"https://nationalbank.kz/en/page/digital-assets-legal-framework"},"law":"Law on Digital Assets (as amended by Law No. 259-VIII of 16 January 2026)","covers":"Operating a platform that organises trading in digital financial assets and crypto outside the AIFC.","requirements":["Joint-stock company or limited liability partnership","Charter capital of at least KZT 200 million","Board-approved operating rules and a three-year business plan","Cybersecurity testing filed at least 10 working days before trading starts"],"holders":1,"holders_as_of":"2026-10-05","notable_holders":["Kazakhstan Stock Exchange (KASE)"],"register_url":"https://nationalbank.kz/ru/page/trading-platform-operators","jurisdiction":null,"url":"https://policy.4pillars.io/kazakhstan/licences#lic-2","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-digital-financial-asset-platform-operator-registration","name":"Digital financial asset platform operator registration","regulator":{"abbr":"NBK","name":"National Bank of Kazakhstan","url":"https://nationalbank.kz/en/page/digital-assets-legal-framework"},"law":"Law on Digital Assets (as amended by Law No. 259-VIII of 16 January 2026)","covers":"Issuing, placing, recording and redeeming digital financial assets such as tokenised real assets and securities.","requirements":["Registration decision by the NBK within 20 working days of a complete application","Capital, risk management and compliance systems set by NBK rules","Custody and record-keeping of the assets underlying each token","Stablecoin issuers need KZT 200 million equity and 100% reserves before minting"],"holders":1,"holders_as_of":"2026-10-05","notable_holders":["Kazakhstan Stock Exchange (KASE)"],"register_url":"https://nationalbank.kz/ru/page/digital-asset-platform-operators","jurisdiction":null,"url":"https://policy.4pillars.io/kazakhstan/licences#lic-3","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-aifc-digital-asset-service-provider-licence-including-digital-asset-trading-facility","name":"AIFC Digital Asset Service Provider licence (including Digital Asset Trading Facility)","regulator":{"abbr":"AFSA","name":"Astana Financial Services Authority","url":"https://afsa.aifc.kz/"},"law":"AIFC Rules on Digital Asset Activities; AIFC Financial Services Framework Regulations","covers":"Operating crypto exchanges, custody, dealing, money services in digital assets and fiat stablecoin issuance inside the AIFC.","requirements":["Company registered in the AIFC","Capital of at least USD 200,000 or 12 months of operating costs for a trading facility","USD 98,000 authorisation fee and USD 30,000 annual supervision fee for a trading facility","Appropriateness tests for retail clients offered digital asset derivatives","Annual independent audit of reserves for stablecoin issuers"],"holders":26,"holders_as_of":"2026-10-05","notable_holders":["BN KZ Technologies (Binance Kazakhstan)","Bybit Limited","ATAIX Eurasia","Intebix","Top Line","Bigone Investment","Neyco"],"register_url":"https://publicreg.myafsa.com/dasp/","jurisdiction":null,"url":"https://policy.4pillars.io/kazakhstan/licences#lic-4","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-digital-mining-licence","name":"Digital mining licence","regulator":{"abbr":"MAIDD","name":"Ministry of Artificial Intelligence and Digital Development","url":"https://www.gov.kz/memleket/entities/maidd?lang=en"},"law":"Law on Digital Assets (2023), as amended by Law No. 231-VIII (2025)","covers":"Industrial crypto mining by companies and individual entrepreneurs, with optional strategic digital miner status.","requirements":["Licence from the Ministry of Artificial Intelligence and Digital Development","Grid connection and power purchase under Ministry of Energy requirements","Payment of the digital mining fee on electricity consumed","Strategic miners contribute 10% of net mined assets to the National Strategic Cryptoreserve"],"holders":76,"holders_as_of":"2026-09-15","notable_holders":[],"register_url":null,"jurisdiction":null,"url":"https://policy.4pillars.io/kazakhstan/licences#lic-5","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}}],"milestones":[{"date":"2023-02-06","date_precision":"day","title":"Law on Digital Assets signed","detail":"Law No. 193-VII made mining a licensed activity and took effect on 1 April 2023."},{"date":"2024-09-25","date_precision":"day","title":"AFSA licenses Binance Kazakhstan and Bybit","detail":"BN KZ Technologies and Bybit Limited received licences to run digital asset trading facilities and custody."},{"date":"2025-06-30","date_precision":"day","title":"National Bank launches its regulatory sandbox","detail":"By September 2026 34 projects had passed testing, from tenge stablecoins to tokenised bonds and crypto QR payments."},{"date":"2025-09-08","date_precision":"day","title":"President calls for a strategic crypto reserve","detail":"The State of the Nation Address proposed a State Digital Assets Fund at the NBK Investment Corporation."},{"date":"2025-09-23","date_precision":"day","title":"First tenge stablecoin issued in the NBK sandbox","detail":"AIFC exchange Intebix issued it on Solana with Mastercard and Eurasian Bank."},{"date":"2025-11-17","date_precision":"day","title":"Mining opened outside the AIFC","detail":"Law No. 231-VIII on AI and digitalisation let companies and entrepreneurs across Kazakhstan mine under licence."},{"date":"2026-01-16","date_precision":"day","title":"Digital financial assets and stablecoins enter the law","detail":"The financial market amendments law created DFAs, stablecoins and NBK-supervised service providers."},{"date":"2026-05-01","date_precision":"day","title":"Onshore licensing regime takes effect","detail":"The NBK began licensing crypto exchange operators and registering trading and DFA platforms."},{"date":"2026-05-19","date_precision":"day","title":"KASE becomes the first registered DFA platform","detail":"The Kazakhstan Stock Exchange registered as both a DFA platform and a digital asset trading platform."},{"date":"2026-06-30","date_precision":"day","title":"NBK grants the first crypto exchange licence","detail":"Astana-based Pax Finance may buy, sell and hold crypto, open exchange offices and install crypto ATMs."},{"date":"2026-07-07","date_precision":"day","title":"President signs decree on the digital asset industry","detail":"Decree No. 1347 created an NBK digital assets committee and ordered bills on stablecoin payments and income tax relief, and the issuance of tokenised government bonds."},{"date":"2026-07-18","date_precision":"day","title":"Strategic digital mining rules approved","detail":"Government Resolution No. 638 lets approved miners contribute to the National Strategic Cryptoreserve."}],"sources":[{"id":"kz-6f110254","title":"Law on Digital Assets in the Republic of Kazakhstan (No. 193-VII)","local_title":"О цифровых активах в Республике Казахстан","issuer":"Parliament of Kazakhstan, via the Adilet legal information system","date":"2023-02-06","date_precision":"day","status":"in-force","status_label":"In force","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"The core statute: classifies digital assets, licenses digital mining and sets rules for their circulation. Signed 6 February 2023, effective 1 April 2023, and heavily amended in 2025 and 2026.","source_url":"https://adilet.zan.kz/eng/docs/Z2300000193","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-a4535737","title":"Law on amendments on regulation and development of the financial market, communications and bankruptcy (No. 259-VIII)","local_title":"О внесении изменений и дополнений в некоторые законодательные акты Республики Казахстан по вопросам регулирования и развития финансового рынка, связи и банкротства","issuer":"Parliament of Kazakhstan, via the Adilet legal information system","date":"2026-01-16","date_precision":"day","status":"in-force","status_label":"In force","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Rewrote the Digital Assets Law to create digital financial assets, money-backed stablecoins and three types of NBK-supervised service providers. Signed 16 January 2026; the licensing regime applied from 1 May 2026.","source_url":"https://adilet.zan.kz/rus/docs/Z2600000259","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-a396eb60","title":"Law on amendments on improvement and digitalisation of the financial market (No. 352-VIII)","local_title":"О внесении изменений и дополнений в некоторые законодательные акты Республики Казахстан по вопросам совершенствования и цифровизации финансового рынка, банкротства, а также оценки государственных органов","issuer":"Parliament of Kazakhstan, via the Adilet legal information system","date":"2026-07-23","date_precision":"day","status":"enacted","status_label":"Enacted","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"Amends the Digital Assets Law to require trading platforms to keep client money and digital assets in separate accounts and wallets, and extends NBK oversight to stablecoin reserve custodians. Signed 23 July 2026; most provisions take effect 60 days after its August 2026 publication.","source_url":"https://adilet.zan.kz/rus/docs/Z2600000352","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-6e7963e4","title":"Decree on measures to stimulate and develop the digital asset industry (No. 1347)","local_title":"О мерах по стимулированию и развитию индустрии цифровых активов в Республике Казахстан","issuer":"President of the Republic of Kazakhstan, via the Adilet legal information system","date":"2026-07-07","date_precision":"day","status":"in-force","status_label":"In force","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Creates a Committee on Digital Assets and Payment Systems at the NBK. Orders a bill on stablecoin payments and crypto custody and the issuance of tokenised government securities by 31 December 2026, an approach to DeFi by 1 November 2026, and a bill by 1 April 2027 exempting individuals from income tax on 2026 to 2028 trades through Kazakh providers. In force from signing.","source_url":"https://adilet.zan.kz/rus/docs/U2600001347","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-7a14ea95","title":"Law on amendments on artificial intelligence and digitalisation (No. 231-VIII)","local_title":"О внесении изменений и дополнений в некоторые законодательные акты Республики Казахстан по вопросам искусственного интеллекта и цифровизации","issuer":"Parliament of Kazakhstan, via the Adilet legal information system","date":"2025-11-17","date_precision":"day","status":"in-force","status_label":"In force","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Ended the AIFC's exclusive hold on mining and crypto circulation, allowing licensed companies and individual entrepreneurs across Kazakhstan to mine.","source_url":"https://adilet.zan.kz/rus/docs/Z2500000231","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-2bda52c8","title":"Regulation of the digital assets market","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2026-05-01","date_precision":"day","status":"guidance","status_label":"Guidance","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"The NBK's hub for the onshore regime: the legal basis, the three categories of service providers, mining licensing by the ministry, the sandbox and the crypto cards project.","source_url":"https://nationalbank.kz/en/page/digital-assets-legal-framework","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-ed7d977b","title":"Kazakhstan introduces regulation of digital asset turnover","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2026-04-30","date_precision":"day","status":"guidance","status_label":"Guidance","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"Announced that from 1 May 2026 crypto exchange operators need an NBK licence and trading and DFA platforms must register, and split supervision between the NBK, ARDFM and AIFC.","source_url":"https://nationalbank.kz/en/news/informacionnye-soobshcheniya/19193","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-ce595651","title":"Register and requirements: unsecured digital asset exchange operators","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2026-05-01","date_precision":"day","status":"in-force","status_label":"In force","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"Licensing requirements for crypto exchange operators outside the AIFC: joint-stock company or LLP form and charter capital of at least KZT 50 million. The register, on the Russian version of the page, listed four licensed operators on 2 October 2026.","source_url":"https://nationalbank.kz/en/page/unsecured-asset-exchange-operators","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-9a3629bb","title":"Rules for the activities of unsecured digital asset exchange operators (NBK Resolution No. 45)","local_title":"Об утверждении правил осуществления деятельности операторов обмена необеспеченных цифровых активов","issuer":"National Bank of Kazakhstan (NBK), via the Adilet legal information system","date":"2026-04-29","date_precision":"day","status":"in-force","status_label":"In force","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"Sets the licensing procedure, qualification requirements, trading and wallet rules, transaction monitoring and client limits for onshore crypto exchange operators. In force from 1 May 2026.","source_url":"https://adilet.zan.kz/rus/docs/V2600038622","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-d33e233e","title":"Register and requirements: digital asset trading platform operators","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2026-05-01","date_precision":"day","status":"in-force","status_label":"In force","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"Registration rules for platforms trading DFAs and crypto: KZT 200 million charter capital, board-approved operating rules, a three-year business plan and cybersecurity testing before launch. The register, on the Russian version of the page, lists only KASE.","source_url":"https://nationalbank.kz/en/page/trading-platform-operators","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-e52916bc","title":"Register and requirements: digital financial asset platform operators","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2026-05-01","date_precision":"day","status":"in-force","status_label":"In force","category":"securities","category_label":"Tokenisation & securities","topic_slug":"tokenisation-securities","summary":"Registration rules for platforms that issue, record and redeem tokenised instruments; the NBK decides within 20 working days of a complete application.","source_url":"https://nationalbank.kz/en/page/digital-asset-platform-operators","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-65f9ca86","title":"Rules for the issuance, placement, circulation and redemption of digital financial assets","local_title":"Об утверждении Правил выпуска цифровых финансовых активов, их размещения, оборота (обращения) и погашения","issuer":"National Bank of Kazakhstan (NBK)","date":"2026-04-10","date_precision":"day","status":"in-force","status_label":"In force","category":"stablecoins","category_label":"Stablecoins & payments","topic_slug":"stablecoins-payments","summary":"Sets the terms for money-backed stablecoins: issuer equity of at least KZT 200 million, minting only after 100% of reserves are in a bank account, and a knowledge test for retail buyers. Effective 1 May 2026.","source_url":"https://adilet.zan.kz/rus/docs/V2600038405","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-c4be386c","title":"First tenge-denominated stablecoin launched in the National Bank's regulatory sandbox","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2025-09-23","date_precision":"day","status":"guidance","status_label":"Guidance","category":"stablecoins","category_label":"Stablecoins & payments","topic_slug":"stablecoins-payments","summary":"Intebix, an AIFC exchange, issued a tenge stablecoin on Solana with Mastercard and Eurasian Bank, linked to crypto card payments.","source_url":"https://nationalbank.kz/en/news/informacionnye-soobshcheniya/17919","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-899e2ff8","title":"Regulatory Sandbox for Digital Financial Assets","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2025-06-30","date_precision":"day","status":"in-force","status_label":"In force","category":"securities","category_label":"Tokenisation & securities","topic_slug":"tokenisation-securities","summary":"The NBK sandbox for testing stablecoins, real estate and gold tokenisation, tokenised bonds, crypto brokerage and crypto QR payments before full licensing.","source_url":"https://nationalbank.kz/en/page/Regulatory-Sandbox","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-c5549638","title":"AIFC Rules on Digital Asset Activities","local_title":null,"issuer":"Astana Financial Services Authority (AFSA)","date":"2026-01-01","date_precision":"day","status":"in-force","status_label":"In force","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"The AIFC rulebook for digital asset trading facilities, service providers, money services and fiat stablecoin issuers, including annual audits of stablecoin reserves. Current consolidated version.","source_url":"https://orderly.myafsa.com/entiresection/a0001000200020010/aifc-rules-on-digital-asset-activities","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-fdeead34","title":"Operating a Digital Asset Trading Facility","local_title":null,"issuer":"Astana Financial Services Authority (AFSA)","date":"2026-10-05","date_precision":"day","status":"guidance","status_label":"Guidance","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"AFSA's guide to authorisation of AIFC crypto exchanges: capital of at least USD 200,000 or 12 months of operating costs, a USD 98,000 authorisation fee and a USD 30,000 annual supervision fee (checked 5 October 2026).","source_url":"https://afsa.aifc.kz/regulated-activities/operating-a-digital-asset-trading-facility/","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-fff996e9","title":"AFSA introduces amendments to Capital Market, Digital Assets and Crowdfunding frameworks","local_title":null,"issuer":"Astana Financial Services Authority (AFSA)","date":"2026-01-01","date_precision":"day","status":"in-force","status_label":"In force","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"From 1 January 2026 all firms dealing in digital assets are treated as Digital Asset Service Providers, with revised trading facility capital rules.","source_url":"https://afsa.aifc.kz/afsa-introduces-amendments-to-capital-market-digital-assets-and-crowdfunding-frameworks-in-the-aifc/","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-118dcae3","title":"AFSA Public Register: Digital Asset Service Providers","local_title":null,"issuer":"Astana Financial Services Authority (AFSA)","date":"2026-10-05","date_precision":"day","status":"in-force","status_label":"In force","category":"exchanges","category_label":"Exchanges & custody","topic_slug":"exchanges-brokerage","summary":"The official list of AIFC digital asset firms with licence numbers, dates, status and activities: 26 active firms on 5 October 2026, 8 of them running trading facilities, including Bybit, BN KZ Technologies (Binance) and ATAIX Eurasia.","source_url":"https://publicreg.myafsa.com/dasp/","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-70b7114b","title":"AFSA Annual Report 2025","local_title":null,"issuer":"Astana Financial Services Authority (AFSA)","date":"2026-05-01","date_precision":"month","status":"guidance","status_label":"Guidance","category":"consumer","category_label":"Investor protection","topic_slug":"investor-protection","summary":"Reports 9 digital asset service providers under the full regime and 19 in the FinTech Lab in 2025, with USD 10.58 billion of transactions and about 215,000 clients.","source_url":"https://afsa.aifc.kz/wp-content/uploads/2026/05/AFSA-Annual-Report-2025.pdf","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-a1261973","title":"Tax Code of the Republic of Kazakhstan","local_title":"Налоговый кодекс Республики Казахстан","issuer":"Parliament of Kazakhstan, via the Adilet legal information system","date":"2026-01-01","date_precision":"day","status":"in-force","status_label":"In force","category":"tax","category_label":"Tax","topic_slug":"tax","summary":"The new Tax Code in force from 1 January 2026, which governs income tax on digital asset gains and the digital mining fee charged on electricity consumed.","source_url":"https://adilet.zan.kz/eng/docs/K2500000214","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-0a151d54","title":"Rules for conducting strategic digital mining (Government Resolution No. 638)","local_title":"Об утверждении Правил осуществления стратегического цифрового майнинга","issuer":"Government of Kazakhstan, via the Adilet legal information system","date":"2026-07-18","date_precision":"day","status":"in-force","status_label":"In force","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Creates strategic digital miner status: approved miners get 10-year power contracts and contribute 10% of mined digital assets, net of the cost of electricity and its delivery, to the National Strategic Cryptoreserve.","source_url":"https://adilet.zan.kz/rus/docs/P2600000638","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-e62b7c3c","title":"Requirements for connecting digital miners to electricity networks","local_title":"Об определении Требований к подключению цифровых майнеров к электрическим сетям","issuer":"Ministry of Energy (Order No. 275), via the Adilet legal information system","date":"2023-07-25","date_precision":"day","status":"in-force","status_label":"In force","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Implementing rules under the Digital Assets Law on how licensed miners connect to the grid and buy power, the main lever the state uses over mining. Last amended in April 2026.","source_url":"https://adilet.zan.kz/rus/docs/V2300033165","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-913e9b09","title":"State of the Nation Address: Kazakhstan in the Era of Artificial Intelligence","local_title":null,"issuer":"President of the Republic of Kazakhstan (Akorda)","date":"2025-09-08","date_precision":"day","status":"guidance","status_label":"Guidance","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Directed a State Digital Assets Fund at the NBK Investment Corporation to build a strategic crypto reserve, and crypto payments in Alatau City.","source_url":"https://www.akorda.kz/en/president-kassym-jomart-tokayevs-state-of-the-nation-address-to-the-people-of-kazakhstan-kazakhstan-in-the-era-of-artificial-intelligence-current-challenges-and-solutions-through-digital-transformation-1083029","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-bcf5b8ed","title":"Government approves the Joint Action Plan for the development of the digital assets industry","local_title":"Правительство Казахстана одобрило Совместный план действий по развитию отрасли цифровых активов","issuer":"Government of Kazakhstan (Office of the Prime Minister)","date":"2026-09-15","date_precision":"day","status":"guidance","status_label":"Guidance","category":"framework","category_label":"Core framework","topic_slug":"asset-classification","summary":"Approves a joint government and NBK plan of 65 measures in 10 areas required by Decree No. 1347, and reports that the National Strategic Cryptoreserve has reached USD 700 million and 34 projects have passed the NBK sandbox.","source_url":"https://primeminister.kz/ru/news/pravitelstvo-kazahstana-odobrilo-sovmestnyy-plan-deystviy-po-razvitiyu-otrasli-cifrovyh-aktivov-31885","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-8a130ebc","title":"Annual Report of the National Bank of Kazakhstan for 2025","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2026-07-07","date_precision":"day","status":"guidance","status_label":"Guidance","category":"banking","category_label":"Banks & prudential","topic_slug":"bank-capital","summary":"States that up to USD 350 million of the NBK's alternative portfolio will be invested in the National Strategic Cryptoreserve and that banks may now build DFA platforms and issue digital instruments.","source_url":"https://nationalbank.kz/file/download/130774","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-be4d4556","title":"National Bank launched crypto cards project and pilot projects in digital assets","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2025-06-03","date_precision":"day","status":"guidance","status_label":"Guidance","category":"banking","category_label":"Banks & prudential","topic_slug":"bank-capital","summary":"Launched bank payment cards linked to wallets at AIFC-licensed crypto exchanges, and announced 2025 pilots on stablecoins and tokenisation.","source_url":"https://nationalbank.kz/en/news/informacionnye-soobshcheniya/17682","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}},{"id":"kz-be7459ef","title":"Digital Tenge","local_title":null,"issuer":"National Bank of Kazakhstan (NBK)","date":"2023-12-15","date_precision":"day","status":"in-force","status_label":"In force","category":"cbdc","category_label":"CBDC & tokenised money","topic_slug":"cbdc","summary":"The NBK's CBDC page with white papers from the pilot through the first implementation phase. The digital tenge now funds National Fund projects.","source_url":"https://nationalbank.kz/en/page/digital-tenge","url":"https://policy.4pillars.io/kazakhstan/regulation","market":{"slug":"kazakhstan","iso_code":"KZ","name":"Kazakhstan","url":"https://policy.4pillars.io/kazakhstan"}}]}}