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Central Asia

Kazakhstan

Crypto grew up inside the AIFC enclave; since May 2026 the National Bank also licenses onshore exchanges, stablecoins and tokens.

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Licences

What it takes to operate in Kazakhstan: 5 licences, who issues each, what it covers and who holds one.

Unsecured digital asset exchange operator licence

NBK · Law on Digital Assets (as amended by Law No. 259-VIII of 16 January 2026)

Buying, selling and exchanging crypto for clients as a dealer, including exchange offices and crypto ATMs outside the AIFC.

What it takes
  • 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 include

  • Pax Finance
  • AUSU
  • Senim Digital Finance
  • Impact Finance
4holders, 5 Oct 2026Register

Digital asset trading platform operator registration

NBK · Law on Digital Assets (as amended by Law No. 259-VIII of 16 January 2026)

Operating a platform that organises trading in digital financial assets and crypto outside the AIFC.

What it takes
  • 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 include

1holders, 5 Oct 2026Register

Digital financial asset platform operator registration

NBK · Law on Digital Assets (as amended by Law No. 259-VIII of 16 January 2026)

Issuing, placing, recording and redeeming digital financial assets such as tokenised real assets and securities.

What it takes
  • 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 include

1holders, 5 Oct 2026Register

AIFC Digital Asset Service Provider licence (including Digital Asset Trading Facility)

AFSA · AIFC Rules on Digital Asset Activities; AIFC Financial Services Framework Regulations

Operating crypto exchanges, custody, dealing, money services in digital assets and fiat stablecoin issuance inside the AIFC.

What it takes
  • 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 include

26holders, 5 Oct 2026Register

Digital mining licence

MAIDD · Law on Digital Assets (2023), as amended by Law No. 231-VIII (2025)

Industrial crypto mining by companies and individual entrepreneurs, with optional strategic digital miner status.

What it takes
  • 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
76holders, 15 Sep 2026

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