Mining cryptocurrencies in Kazakhstan
Main article: Cryptocurrency mining in Kazakhstan
Alem Crypto Fund
Main article: Alem Crypto Fund
2026
Closing of 130 illegal crypto exchangers with the turnover of 62 billion tenge
Over 130 illegal crypto exchanges have been liquidated in Kazakhstan, the turnover of which exceeded 62 billion tenge ($123 million at the exchange rate as of January 29, 2026). At the same time, the country records attempts to withdraw capital abroad through cryptocurrency fraud. This was announced on January 28, 2026 by the head of state Kassym-Jomart Tokayev.
Illegal crypto exchanges allow you to convert cryptocurrency into fiat funds and vice versa. Such sites do not identify their customers or identify suspicious operations. Their services, as noted, are often used by criminals - primarily cyber fraudsters and drug dealers.
According to Tokayev, money laundering and illegal capital withdrawal through clandestine crypto operations are a serious problem. During the measures to eliminate illegal crypto exchanges in the country, assets worth 2.6 billion tenge ($5.16 million) were arrested.
 | At the same time, active advertising of the exchange of money for crypt continues on social networks. It turns out that the problem has not been solved. According to international organizations, our country is one of the leaders in terms of the amount of capital withdrawn. At the same time, there are practically no convicts for such crimes, - emphasizes Tokayev. |  |
The President of Kazakhstan notes that from 2023 the country represents the interests of the Eurasian region in the association of financial intelligence of the Egmont Group. A partnership has been established with 20 large crypto exchanges. In addition, a special Krypton unit has been created at the Financial Monitoring Agency of Kazakhstan to combat digital asset offenses. Amendments to legislation have been developed that introduce liability for digital asset providers for violations in the field of money laundering. Checks on cryptocurrency transactions in financial institutions have been strengthened.[1]
President of Kazakhstan signed a law allowing crypto exchanges
In mid-January 2026, President of Kazakhstan Kassym-Jomart Tokayev signed laws "On banks and banking activities in the Republic of Kazakhstan" and "On amendments and additions to some legislative acts of the Republic of Kazakhstan on the regulation and development of the financial market, communications and bankruptcy." The documents, among other things, define the regulation of the sector of unsecured digital assets, that is, cryptocurrencies.
In particular, it is envisaged to create cryptocurrency exchange organizations, whose activities will be licensed and regulated by the National Bank. To protect investors, it is planned to establish a list of cryptocurrencies allowed for circulation, as well as limits and restrictions on the operations of crypto exchanges. In addition, in order to counter the laundering of income and the financing of terrorism, crypto exchanges and infrastructure participants in the digital asset market are included in the list of subjects of financial monitoring.
At the same time, regulation is being introduced on the territory of Kazakhstan and the turnover of digital financial assets is allowed. There are three types of such assets:
- Digital financial assets, the basic asset of which is money - stablecoins. Requirements for the procedure, terms of issue, circulation and repayment of stablecoins will be determined by the National Bank;
- Digital financial assets, the underlying asset of which is financial instruments, financial asset, property rights, goods or other property;
- Financial instruments produced in electronic digital form on a digital platform.
The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market is empowered to establish requirements for the procedure, conditions for the issue, circulation and repayment of digital financial assets (except stablecoins). The issuance of such assets will be carried out by operators of digital platforms: these are new subjects of the financial market, whose activities are licensed by the National Bank.[2]
2025
Free mining allowed in Kazakhstan - now there is no need to sell cryptocurrencies through the local exchange
In November 2025, Kazakhstan Kassym-Jomart Tokayev approved a bill amending a number of regulatory acts of the republic regarding digitalization and artificial intelligence. The key innovation is the abolition of the requirement to sell the predominant share of digital assets mined in the mining process exclusively on the trading platform of the Astana international financial center.
According to Kommersant, the adopted document establishes a legal framework for the circulation of unsecured digital assets within Kazakhstan's territory. Until that moment, such operations were allowed exclusively within the framework of the AIFC special economic zone. The removal of geographical barriers opens up new horizons for participants in the crypto market.
The functioning of trading platforms and the turnover of unsecured digital currencies in Kazakhstan becomes possible subject to obtaining the appropriate permission. Mining cryptocurrencies opens up for entrepreneurs working in the status of individual entrepreneurs, as well as for corporate structures of the country. The previous system obliged mining operators to sell a significant part of the mined coins on the only allowed site.
The updated legislation provides market participants with the opportunity to independently determine the strategy for working with extracted assets. They get the right to choose sites for trading or save digital coins on wallets. Such flexibility significantly improves the conditions for doing business in the cryptosphere of the republic.
The amended legislation will take effect after a two-month period from the date of their official publication. Industry participants are given a time period to prepare for work in the updated conditions. During these two months, companies will be able to collect the required package of documentation for issuing licenses.[3]
President of Kazakhstan Kassym-Jomart Tokayev allowed crypto exchanges to work throughout the country
In November 2025, President of Kazakhstan Kassym-Jomart Tokayev signed a law allowing the circulation of cryptocurrencies throughout the country. This was reported by the press service of Akorda.
According to the publication "Italic," the law is focused on the regulation of unsecured digital assets in the Republic of Kazakhstan. Akorda reports that before its adoption, the relevant operations were allowed exclusively on the territory of the Astana International Financial Center.
According to the provisions of the law, mining is officially allowed to Kazakhstani individual entrepreneurs and legal entities. At the same time, this activity is not recognized as activities for organizing the turnover of digital assets. The organization of such a turnover is prohibited without obtaining an appropriate license or permission.
At the beginning of 2025, at an expanded government meeting, the President of Kazakhstan stressed the need to develop infrastructure for the legal circulation of digital assets in the country. As of November 2025, operations with cryptocurrency are allowed only on licensed exchanges of the MPSC. However, according to experts, only 5% of Kazakhstani crypto investors use these sites, the rest prefer to work in the "gray zone."
At the end of May 2025, the National Bank and the Agency for Regulation and Development of the Financial Market developed legislative amendments regulating the turnover of crypto assets. Regulators have approved the creation of a new category of financial market participants - providers of cryptocurrency exchange services called crypto exchanges. The activities of such operators will be carried out on the basis of a license under the supervision of the National Bank.
According to Italic, crypto exchanges operating in the jurisdiction of the Astana International Financial Center will continue their activities, and new regulatory measures do not apply to them.[4]
Announcement of the creation of a national cryptocurrency fund for $1 billion
In early November 2025, it became known that Kazakhstan is creating a national reserve cryptocurrency fund with a volume of $500 million to $1 billion. It is planned to replenish it, among other things, at the expense of digital assets confiscated during criminal investigations.
The fund is expected to invest in ETFs (Exchange Traded Fund) and blockchain-related companies, avoiding directly owning volatile cryptocurrency assets. Supervision over the activities of the fund will be carried out by the Astana International Financial Center together with the investment division of the National Bank of Kazakhstan.
The project is part of the country's broader strategy to transform into a regional leader in blockchain and other advanced technologies. The head of the National Bank of Kazakhstan Timur Suleimenov notes that the crypto fund will be "very careful about direct investment in cryptocurrencies." The new structure will give the government the opportunity to enter a fast-growing market without taking on all the risks associated with directly owning cryptocurrency assets. After the formation of the fund concept, foreign institutional investors can be invited to participate in the project.
| | I think by the end of the year, in January next [2026], we will be ready to launch the project, "said Suleimenov, quoted by Bloomberg. | |
As 99Bitcoins 's resource notes, the reserve crypto fund of Kazakhstan is not just an asset management tool. It reflects a growing interest in digital currencies as part of the country's financial infrastructure. The emergence of the fund will make it possible to turn the confiscated cryptocurrency from a "legal burden" into a "managed reserve asset." The implementation of the project, according to market participants, will strengthen confidence in the country in the global blockchain space.[5]
Payment of goods and services by the most popular cryptocurrencies through QR codes launched in Kazakhstan
The Bybit Kazakhstan cryptocurrency exchange has launched a pilot project to pay for goods and services with digital assets through QR codes. The technology allows users to pay the most popular cryptocurrencies, and sellers receive payment in tenge thanks to automatic conversion. This was announced by the Tengri News portal in October 2025. Read more here
National Bank of Kazakhstan launched stablecoin
The National Bank of Kazakhstan launched the first stablecoin, secured by the national currency of the republic - tenge, within the framework of the regulatory sandbox of the central bank. The digital currency is called Evo and is tied to tenge in a ratio of one to one, which allows it to be used to pay for goods and services directly in stablecoins. The start of the project of digital transformation of the country's financial system became known on September 23, 2025. Read more here.
Central Bank of Kazakhstan: Gold and foreign exchange reserves and funds of the National Fund will be invested in cryptocurrency assets
In mid-July 2025, it became known that the National Bank of the Republic of Kazakhstan could invest part of the gold and foreign exchange reserves and funds of the National Fund in cryptocurrency assets. This possibility was pointed out by the head of the National Bank Timur Suleimenov.
According to him, we are talking about investing in funds related to the crypto industry. Suleimenov emphasizes that cryptocurrency assets can bring high returns, but at the same time are distinguished by high volatility. Therefore, the question of such investments requires careful study.
| | We have an alternative portfolio of gold and foreign exchange reserves and an alternative portfolio of the National Fund. There we use aggressive strategies to generate higher investment returns. We looked at the experience of the Norwegian foundation, the American experience, the experience of the funds of the Middle East. They have certain investments either in crypto assets directly or in ETFs and shares of companies that are closely related to crypto assets. They are small at all, - said the head of the National Bank of Kazakhstan. | |
Earlier, the regulator approved the idea of forming a state reserve of crypto assets, consisting of confiscated funds and cryptocurrencies mined by miners with state participation. It is planned to create a reserve on the basis of a subsidiary of the National Bank working with alternative investments. As Suleimenov notes, if individual enterprises are engaged in mining crypto assets on behalf of the state, part of the assets received may go to the crypto reserve in the form of taxes or mandatory payments. In general, the National Bank of Kazakhstan "supports a prudent and institutionally based approach to the formation of a state crypto reserve in accordance with best international practice."[6]
Central Bank of Kazakhstan began to issue payment cryptocurrency cards
The National Bank of Kazakhstan has launched a crypto-card mechanism and several pilot projects in the field of digital assets. They earned after a meeting of representatives of the regulator, as well as banks of crypto exchanges and fintech companies, held on June 3, 2025.
As the press service of the regulator explains, crypto cards are special payment cards with which users can make non-cash transactions using the funds of their crypto wallets registered with licensed providers of the International Financial Center. " Astana The new initiative is aimed at simplifying the interaction between digital assets and the current payment system.
The principle of operation of the "crypto card" is to automatically sell the client's digital assets at the AIFC sites at the time of payment. The funds received are instantly credited to the card that is linked to your bank account. Thus, payment is made in fiat money after the conversion of crypto assets. The speed of transactions is ensured by the integration of banking systems and AIFC crypto providers.
In 2025, with the support of the National Bank, several pilot initiatives in the field of digital assets are planned, including:
- issue of stablecoins denominated in national currency (including digital tenge) for settlements with digital assets;
- tokenization of financial instruments and real estate, as well as the issuance of tokens with the status of securities;
- Implementation of accounting and security storage systems for digital financial assets;
- development of services for the exchange and storage of crypto assets;
- a number of other digital finance projects.[7]
President of Kazakhstan announced the launch of a special zone CryptoCity to pay for goods and services with cryptocurrency
President of Kazakhstan Kassym-Jomart Tokayev announced the creation of a special pilot zone CryptoCity, in which cryptocurrencies can be used to buy goods, services and other purposes. The project will be part of the country's digital transformation and strengthening Kazakhstan's position as a Eurasian IT hub. The head of state announced this at the end of May 2025 at the plenary session of the Astana International Forum. Read more here
National Bank of Kazakhstan allowed the work of cryptocurrency exchangers
The National Bank of Kazakhstan has introduced a new category of market participants - providers of cryptocurrency exchange services, which will operate on the basis of a license and under the supervision of the regulator. This was announced on May 22, 2025 by the director of the department of payment systems of the National Bank Yerlan Ashykbekov.
According to Interfax, their functionality will include cryptocurrency exchange operations for fiat money. The list of cryptocurrencies available for purchase or sale by such organizations will be established by the National Bank of Kazakhstan. The legislation enshrines the legal status of operators of crypto-exchange platforms, the licensing of which will be carried out by the National Bank.
The National Bank is assigned to the regulation and licensing of the activities of crypto exchangers for the exchange of cryptocurrencies, control and supervision over them. The regulator also receives powers on the activities of operators of the platform of digital financial assets, on the basis of which these assets are issued and circulated. The National Bank will organize control over the issue and turnover of stablecoins certifying rights to money.
The activities of crypto exchanges in the jurisdiction of the Astana International Financial Center will be regulated separately. There is a functional interaction between cryptocurrency exchange providers and AIFC crypto exchanges to ensure a holistic digital market infrastructure.
The joint competence of the financial regulation agency and the National Bank includes the regulation of the issue and turnover of digital financial assets. This includes the definition of requirements for issuers and investors of CFA, for the quality of the underlying asset, which acts as collateral for the issue of CFA.
The new measures are aimed at expanding control over unsecured digital assets and protecting consumers. Regulation will help improve access to financing for businesses and reduce transaction costs. Digital financial assets will become part of the country's existing financial system.[8]
2024
Introduction of a ban on the transfer of funds to foreign crypto exchanges
The Agency for Regulation and Development of Kazakhstan the Financial Market (ARRFR) has published a document prohibiting the country's banks from transferring to foreign cryptocurrency exchanges. Credit institutions will be required to automatically reject payments and transfers of customers to exchanges of digital assets that are not members of the Astana International Financial Center (). AIFC This restriction also applies to transfers in favor of electronic and for Internet casino persons under 21 years of age.
The document provides for tightening control over customers with more than five payment cards. For them, a limit is introduced on transactions: no more than three payments or transfers totaling up to ₸100 thousand per month in favor of digital exchanges unregistered in the AIFC.
When a client performs a one-time operation with an AIFC participant providing services for managing a digital asset platform in the amount of over $1,000, the bank is obliged to conduct an enhanced check of the origin of the client's funds. This includes monitoring and studying transactions with client money, as well as preventing illegal withdrawal of funds abroad, including offshore.
In Kazakhstan, cryptocurrency exchanges can legally function only on the territory of the AIFC - a special economic zone in the capital of the country, created to attract investment. At the time of publication of the project, the AIFC has 10 crypto exchanges, including Onyx Trade Ltd., Neyco Ltd., Swiftex.io Limited and others.
Experts note that these measures are aimed at strengthening control over the movement of funds in the cryptocurrency sector and preventing possible abuse. The new rules are expected to help reduce the risks of money laundering and financing illegal activities through cryptocurrency transactions.[9]
To prison or to the exchange: How to trade cryptocurrency in Kazakhstan?
According to the current legislation of Kazakhstan, the possibility of legal trading in cryptocurrency and stablecoins exists only on official sites - exchanges and brokers licensed at the AIFC. This was announced in July 2024 inbusiness.kz. Since April 2024, R2R operations have been allowed at these sites, and such transactions are protected by current legislation.
According to the deputy of the Mazhilis Ekaterina Smyshlyaeva, the number of citizens involved in cryptocurrency operations and operations with digital assets, the provision of which is not recognized in national jurisdiction, is growing. However, it is not possible to verify the legality of these operations, since they are more often carried out at unofficial sites - P2P exchangers, whose activities in the country are illegal.
Since the beginning of 2024, 12 criminal cases related to cryptocurrency have been initiated under Article 214 of the Criminal Code of the Republic of Kazakhstan on illegal entrepreneurial activity, of which 11 are in production by July 2024, one case has been sent to court. As the experience of the past period shows, mainly the attention of law enforcement agencies is attracted by illegal crypto exchanges and exchanges operating without appropriate permits.
In Kazakhstan, a secured digital asset certifies the right to material, intellectual services and assets, with the exception of money and securities. It can be used as an investment instrument, a digital certificate of property rights or an obligation in a project.
According to Ekaterina Smyshlyaeva, in the future a number of proposals are being considered on the introduction of licensing and legalization of crypto exchanges, connecting them to the financial monitoring system. The mechanism of protection against the risks of criminal prosecution of ordinary citizens who are not organizers of the exchange, but simply use the service with legal capital, is discussed with experts and regulators.[10]
Through the postal operator "Kazpost" now you can send money to crypto exchanges
On July 22, 2024, it became known that the national postal operator of Kazakhstan "Kazpost" received official permission to carry out fiat transactions with digital assets. This innovation opens up new opportunities for citizens of the country to acquire cryptocurrency through a state postal operator. Read more here
"Both lost and earned." The head of the Ministry of Ministry of Digital Development of Kazakhstan told how he bought cryptocurrencies
On July 12, 2024, the Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan Zhaslan Madiev shared his experience of investing in cryptocurrencies. At a briefing, the head of the department spoke about his successes and failures in the digital asset market. Read more here.
Cryptocurrency of Pavel Durov legalized in Kazakhstan
On June 28, 2024, the AIFC Committee on the Regulation of Financial Services (AFSA) of Kazakhstan officially approved the Toncoin cryptocurrency, founded by Pavel Durov, for trading on licensed platforms of the Astana International Financial Center (AIFC). The decision marks an important step in legalizing and integrating the digital asset into the country's financial system. Read more here.
2023
Kazakhstan blocks Coinbase crypto exchange
Since mid-September 2023, the site of the Coinbase cryptocurrency exchange has ceased to open without a VPN in Kazakhstan. Almost two months later, the Ministry of Culture and Information of the Republic officially confirmed the blocking of the resource.
Binance launches cryptocurrency trading platform in Kazakhstan
On June 21, 2023, Binance announced the launch of a local crypto exchange in Kazakhstan. The Binance Kazakhstan platform at the first stage will offer local users services for the exchange and conversion of currencies, the entry and withdrawal of fiat funds, as well as the storage of crypto assets. Read more here.
Arrest of Russian property for operations with cryptocurrencies
In Kazakhstan, in February 2023, the property of a Russian was arrested for operations with cryptocurrencies. The security forces claim that the amount of funds illegally raised by the man amounted to $400,000 (180 million tenge).
According to court orders, the suspect's real estate in the amount of 85 million tenge was seized, including digital assets placed on the Binance crypto exchange.
2022
Bank cards with payment in cryptocurrency are launched in Kazakhstan
In October 2022, it became known about the launch of crypto-currency cards in Kazakhstan. This is a joint project of the Eurasian Bank and the Intebix crypto exchange. Read more here.
Binance crypto exchange received approval to work in Kazakhstan
In August 2022, the Binance crypto exchange received approval to work in Kazakhstan. The relevant document was issued by the Astana Financial Services Authority (AFSA), the regulatory body that oversees the Astana International Financial Center (AIFC). Read more here.
2021: Kazakhstan banks start opening accounts for cryptocurrency companies
At the end of July 2021, it became known about the launch in Kazakhstan of a pilot project to open bank accounts for cryptocurrency companies. Some credit institutions will be allowed to work with digital assets, but the names of the banks are not specified.
According to the Association of Blockchain and Data Center Industry, we are talking about allowing banks to open accounts for legal entities representing services for the purchase and sale of cryptocurrencies and registered on the basis of the Astana International Financial Center (AIFC). The pilot project will last a year.
With this project, the government will be able to assess the risks and benefits of digital assets. By the end of July 2021, their turnover in Kazakhstan is prohibited.
According to the President of the Association Alan Dordzhiev, the Central Bank of Kazakhstan previously issued a document related to risk control, where it was said about the ban on servicing and opening accounts for cryptocurrency companies. Subsequently, they decided to adjust this, he noted.
There are several reasons for the government to take a step towards cryptocurrency, said Sergey Putra, senior coordinator for relations with government agencies of the Association of Blockchain and Data Center Industry in Kazakhstan.
First of all, because the country is concentrated from 6 to 8 percent of the world mining volume. Also, some Kazakhstanis are already quite actively trading in various digital assets. The deals, according to the expert, are estimated at millions of dollars. Another reason is fraud. There are cases when our fellow citizens instead of cryptocurrency buy a "dummy."
| | The global premise is that crypt revolutions are quite large amounts of finance, they are billions of dollars of daily revolutions around the world. And even if Kazakhstan takes some share of the interest, even better is one percent of this turnover, this is serious money that will come to the country in the form of investments, will remain here in the form of taxes, in the form of jobs, salaries. This is a very big industry that Kazakhstan is still bypassing, "Putra said.[11] | |
Notes
- ↑ Head of State Kassym-Jomart Tokayev held a meeting at the Financial Monitoring Agency
- ↑ The head of state signed a new law on banks
- ↑ President of Kazakhstan simplified mining and cryptocurrency turnover
- ↑ Tokayev signed a law allowing the circulation of cryptocurrencies throughout the country
- ↑ Kazakhstan Plans $1B Crypto Fund Using Seized and Mining Assets
- ↑ Kazakhstan's reserves want to invest in crypto assets
- ↑ The National Bank launched the implementation of the project "crypto-cards" and pilot projects in the field of digital assets
- ↑ National Bank of Kazakhstan legalizes crypto exchanges
- ↑ Banks of Kazakhstan will be banned from transferring money to foreign crypto exchanges
- ↑ To prison or to the stock exchange: is it possible to legally trade cryptocurrency in Kazakhstan?
- ↑ Banks in Kazakhstan will be allowed to open cryptocurrency accounts for companies
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