President Kassym-Jomart Tokayev signed a sweeping decree on July 7, 2026, intended to formalize Kazakhstan’s cryptocurrency market through new stablecoin regulations and individual income tax exemptions. The document, which was officially announced by the government on July 8, seeks to transition digital asset activity from the informal “grey zone” into a structured, transparent financial ecosystem.
By providing a clear legal framework for tokenization and mining, the Kazakh administration aims to attract global capital and expertise to the Central Asian nation.
Kazakhstan crypto adoption push targets tax relief and domestic migration
The decree was a collaborative effort between the Ministry of Artificial Intelligence and Digital Development (MAIDD), the National Bank of Kazakhstan, and the Astana International Financial Centre (AIFC). It introduces specific mechanisms for using stablecoins in cross-border settlements, allowing companies to use this new payment method alongside traditional banking networks.
This legislative push follows a period of intense advocacy from President Tokayev, who has spent the last year calling for a more robust regulatory environment to capitalize on the country’s status as a global mining powerhouse.
One of the most striking features of the new decree is the provision for tax incentives designed to bring capital back to the country. The government will grant individual income tax exemptions on revenue generated from cryptocurrency transactions, provided those trades occur on domestic, regulated platforms.
This move is a direct attempt to discourage Kazakh citizens from utilizing foreign, unlicensed exchanges where the state has limited oversight.
However, the tax relief comes with a mandatory disclosure requirement. To qualify for the exemptions, users must officially disclose their cryptocurrency ownership held on foreign platforms. By linking tax breaks to domestic migration, the Kazakh government hopes to boost the liquidity of its local digital asset exchanges.
This regulatory evolution comes as the Bitcoin price analysis remains a focal point for global investors tracking how national policies influence market participation.
The Ministry of Artificial Intelligence and Digital Development (MAIDD) emphasized that these rules are about more than just revenue. Minister Zhaslan Madiyev stated the goal is to create an environment where digital assets become as “familiar and secure as traditional financial instruments.”
For the average participant, this means moving toward a system backed by the legal protections of the Astana International Financial Centre (AIFC) rather than remaining in unregulated foreign venues.
New stablecoin framework and the role of the National Bank
The regulatory structure for stablecoins in Kazakhstan is now one of the most defined in the region. Under the oversight of the Astana Financial Services Authority (AFSA), a framework permits the issuance of fiat-backed stablecoins pegged to a single currency.
Permitted reference currencies include the Chinese Yuan (RMB) and Group of Ten currencies like the US Dollar and Euro. This targeted approach aims to reduce volatility while providing a reliable tool for commercial transactions and cross-border settlements.
AnchorX.KZ Limited has become the first entity to receive a license for fiat-backed stablecoin issuance under this protocol. The company intends to leverage this to facilitate cross-border financial solutions, particularly those involving trade with China. Meanwhile, the National Bank of Kazakhstan continues to operate its regulatory sandbox, which launched in mid-2025.
Binur Zhalenov, Chief Digital Advisor at the National Bank, confirmed the first cohort includes three tenge-backed stablecoin pilots and various tokenization platforms.
As these local frameworks solidify, the broader market continues to monitor shifts in institutional trust. While Ethereum recovery outlook remains dependent on network activity, Kazakhstan is betting that absolute regulatory clarity will make it a preferred destination for institutional players who have been deterred by legal ambiguity elsewhere.
The government hopes to join the ranks of the UAE and Singapore as a premier global hub for digital asset circulation.
Energy policy and the management of the mining sector
Beyond trading and payments, the decree addresses the specific needs of the cryptocurrency mining sector. Kazakhstan currently holds a 13% market share of the global Bitcoin monthly hashrate, trailing only the United States and China.
To maintain this position without straining the national power grid, the new decree establishes a mechanism to allocate excess electricity specifically for mining operations. This strategy is intended to promote more efficient energy consumption while stimulating regional investment.
The government is using electricity as a tool for development by directing surplus energy to mining zones in specific provinces. This move is coupled with broader tokenization plans that could allow various industrial assets to be represented on the blockchain.
By formalizing the sector, the MAIDD and the National Bank hope to convert irregular “grey” mining operations into regulated entities that contribute predictably to the national economy.
The focus on transparency is a response to the challenges of undocumented mining that have pressured the electrical infrastructure in the past. By providing a managed energy policy, Kazakhstan aims to ensure that its mining industry supports, rather than hinders, national stability.
The integration of stablecoins for industrial use cases further aligns the country’s high hashrate with its broader goals of becoming a regional leader in regulated digital finance and cross-border settlements.