Kazakhstan Approves New Legal Framework for Regulating Cryptocurrencies and Digital Assets

The President of Kazakhstan, Kassym-Jomart Tokayev, has enacted a series of laws aimed at establishing a clear regulatory environment for digital assets. This move marks a significant milestone in the country’s cryptocurrency mining and digital finance policy, reflecting Kazakhstan’s deliberate strategy to position itself as a regional power in the sector.

The New Legislation and Its Main Objectives

The legislative acts approved—‘On Banks and Banking Activities’ and ‘On Amendments and Supplements to Certain Legislative Acts on the Regulation and Development of the Financial Market, Communications, and Bankruptcy’—lay the foundation for a comprehensive regulatory system. According to Cointelegraph, these legal changes aim to create a well-ordered and secure environment for the digital assets industry, allowing the country to attract international investment and strengthen its geopolitical position in Central Asia.

Classification of Digital Assets and the Role of the NBK

The regulatory framework introduces an innovative classification structure for digital assets. The National Bank of Kazakhstan (NBK) acts as the primary supervisory authority, responsible for issuing licenses to exchange platforms, authorizing cryptocurrencies for circulation, and setting operational limits.

The legislation establishes three categories of Digital Financial Assets (DFAs): stablecoins, assets backed by financial instruments and properties, and electronically issued financial instruments. The Agency for the Regulation and Development of the Financial Market (ARDFM) is responsible for defining standards for the issuance, circulation, and redemption of DFAs, explicitly excluding stablecoins from certain requirements.

Investor Protection Standards

New digital platform operators acting as DFA issuers must obtain a license from the central bank. These assets will be subject to requirements equivalent to those for conventional financial instruments, including rigorous risk management, transparent information disclosure, and robust investor protection mechanisms.

Bitcoin, Ethereum, and Unsecured Digital Assets

Bitcoin (BTC) and Ether (ETH) are classified under the category of ‘unsecured digital assets’ according to the new legislation. The NBK has the authority to regulate and license cryptocurrency exchanges, determine an official list of authorized crypto assets, and set specific limits for transactions on regulated platforms.

Kazakhstan as a Regional Digital Asset Hub

This regulatory move aligns perfectly with Kazakhstan’s vision of becoming a key industrial hub for digital assets in Central Asia. The country has been a pioneer in adopting stablecoin payments and has actively participated in launching Bitcoin exchange-traded funds in 2025. Additionally, Kazakhstan plays a leading role in cryptocurrency mining on a global scale.

Although Cointelegraph requested comments from ARDFM regarding the list of permitted assets and additional standards, the agency did not respond at the time of publication. However, this legislative initiative clearly demonstrates Kazakhstan’s strategic efforts to position itself as a relevant player in the digital asset economy, fostering a safe and structured ecosystem for digital financial operations.