Kazakhstan, one of the world’s biggest Bitcoin mining hubs, is making a serious push to regulate and expand its crypto sector.
President Kassym-Jomart Tokayev signed a new decree Wednesday aimed at building a regulated digital asset market. The order was developed jointly by the Ministry of AI and Digital Development, the central bank, and the Astana International Financial Centre.
Here’s what’s in it.
Stablecoins for cross-border trade. The decree creates a framework for using digital assets and stablecoins in international settlements. The government wants to add crypto to Kazakhstan’s financial toolkit while keeping everything within a regulated framework.
Tax breaks for regulated activity. Users holding crypto on foreign unregulated platforms will be encouraged to disclose and move their assets to approved domestic services. The government is proposing personal income tax exemptions for crypto activity conducted through regulated infrastructure.
Gas-powered mining. The decree introduces a mechanism for using associated petroleum gas and natural gas from oil fields to generate electricity for digital mining. Kazakhstan is sitting on massive gas resources, and this turns flared gas into productive energy.
New energy model. A separate “70/30” rule lets data centers and miners access up to 70% of new power generation capacity created through infrastructure upgrades.
Kazakhstan ranked third globally by estimated Bitcoin mining hash rate in 2022. The decree also sets plans for tokenized financial instruments and national trading infrastructure. “Our goal is to make Kazakhstan a point of attraction for global capital,” said MAIDD Minister Zhaslan Madiyev.
