Translated with AI
Legislative changes are being prepared in Kazakhstan that will allow the official purchase and sale of cryptocurrency. This was announced by the Deputy Chairman of the National Bank Berik Sholpangulov, Tengrinews.kz reports.
He said that the amendments are being developed on the instructions of the President and include two main areas.
"The first block is the launch of digital financial assets with the definition of legal status. The second block is the introduction of regulation of the turnover of unsecured cryptocurrencies through the licensing of crypto exchange service providers," Sholpangulov said during a briefing at the National Bank.
In addition, the National Bank is creating a so-called regulatory sandbox – a special platform where market participants will be able to test new digital technologies and services.
Earlier, Vice Minister of Digital Development Kanysh Tuleushin spoke about the innovations. According to him, by the end of 2025, the digital asset market will be open to everyone – they will make it transparent, understandable and legal.
What exactly will change? First of all, the work will be simplified for digital asset providers — companies that store, exchange and sell cryptocurrencies. All such companies must be registered in the Astana International Financial Center (AIFC). Legal cryptocurrency exchange offices — a kind of "official exchangers" — will also appear there.
What will this give to ordinary people? Individuals — that is, ordinary citizens — will be able to obtain a license from the AIFC and calmly buy or sell digital assets. The market will cease to be "gray", and all transactions will become transparent. This will help the state see who and how trades cryptocurrency, and therefore better control the movement of money and protect against illegal withdrawal of capital.
What will happen to the miners? The changes will also affect mining. Large mining companies want to be allowed to build their own power plants and generate electricity for themselves. This will make their work more stable and profitable.
Why is this important? Officials explain that Kazakhstan has advantages: cheap electricity, available space, and the existing jurisdiction of the AIFC, where fintech companies are already operating. If liberalization is completed, the country will be able to attract investment, create new jobs, and become one of the few in the region with a fully legal digital asset market.
