Kazakhstan Unveils Sweeping Crypto Push as President Signs Digital Asset Decree

Kazakhstan is taking another major step toward becoming one of the world's leading crypto economies.

President Kassym-Jomart Tokayev has signed a new decree aimed at accelerating digital asset adoption, introducing measures that support stablecoin payments, tokenized financial products, tax incentives and new energy infrastructure for Bitcoin mining.

The initiative builds on the country's broader digital asset strategy unveiled earlier this year, which established a comprehensive regulatory framework under the supervision of the National Bank of Kazakhstan. Together, the reforms signal Kazakhstan's ambition to move beyond its reputation as a Bitcoin mining hub and position itself as a regional leader in regulated digital finance.

Loading tweet...

View Tweet

Moving Beyond Bitcoin Mining

Kazakhstan first became a major player in crypto after China's mining crackdown in 2021, when thousands of Bitcoin miners relocated to the country in search of inexpensive electricity.

At one point, Kazakhstan ranked among the world's largest Bitcoin mining markets, accounting for roughly 13% of global hash rate, according to data from the Cambridge Centre for Alternative Finance.

Now the country's ambitions are expanding well beyond mining. The latest decree outlines plans to build a regulated digital asset ecosystem capable of supporting exchanges, tokenized financial products, stablecoin payments and institutional investment.

Stablecoins Move Into Cross-Border Trade

One of the decree's most significant proposals is the use of stablecoins for international payments. The government plans to develop mechanisms that allow digital assets to support cross-border trade while remaining within a regulated financial framework.

Officials believe the initiative could simplify import and export settlements while giving businesses additional payment options for international commerce.

The move follows several years of digital payment initiatives in Kazakhstan, including the launch of regulated crypto cards that allow consumers to spend cryptocurrency through the country's existing payment infrastructure.

Bringing Crypto Into the Regulated Economy

Another priority is moving crypto activity away from offshore platforms and into licensed domestic exchanges. Under the government's roadmap, users will be encouraged to disclose crypto assets held abroad and migrate them to regulated providers operating inside Kazakhstan.

The decree also proposes personal income tax exemptions for certain digital asset activities conducted through licensed platforms, creating additional incentives for users to remain within the regulated ecosystem.

"Our goal is to make Kazakhstan a point of attraction for global capital and expertise while ensuring maximum transparency and protection for every participant in this market," said Zhaslan Madiyev, Kazakhstan's Minister of Artificial Intelligence and Digital Development.

The broader objective is to increase transparency while attracting international investment into Kazakhstan's growing digital economy.

Powering Mining With Energy That Would Otherwise Go Unused

The decree also addresses one of Kazakhstan's most debated crypto issues: electricity. Rather than drawing additional power from the national grid, the government wants digital miners to utilize associated petroleum gas and natural gas that would otherwise be flared at oil fields.

Those resources could be converted into electricity for autonomous mining operations when they are not required for state use.

Separately, Kazakhstan has introduced a 70/30 energy model, allowing miners and data centers to access up to 70% of newly created generating capacity while the remaining 30% supports the public grid.

Loading tweet...

View Tweet

Building a Digital Finance Hub

The decree is the latest step in Kazakhstan's broader digital transformation strategy.

Earlier this year, the country's central bank announced plans to invest up to $350 million in crypto-related assets and infrastructure companies, while regulators have introduced licensing requirements for exchanges, legal recognition of tokenized financial assets and a regulatory sandbox for blockchain innovation.

Officials have also approved the Digital Qazaqstan strategy through 2029, a national initiative focused on artificial intelligence, data centers, fintech and digital infrastructure.

Taken together, the reforms suggest Kazakhstan is pursuing a broader goal than simply attracting crypto miners.

The country is positioning itself as one of the world's first jurisdictions attempting to build a fully regulated digital asset economy—one where stablecoins, tokenized assets, licensed exchanges and Bitcoin mining operate under a unified legal framework.