Kazakhstan
Is crypto legal in Kazakhstan? (2026)
Yes — cryptocurrency is legal in Kazakhstan. Current status: Legal via licensed venues (AIFC). Oversight sits with AFSA (AIFC) · National Bank of Kazakhstan. Full details — governing law, licensing, tax and dated enforcement history — follow below (last reviewed 2026-07-12).
Legal status
Primary regulator
Stablecoin status
Framework: Law on Digital Assets No. 193-VII (effective 1 April 2023) + AIFC Digital Asset Activities Rules; liberalising amendments via Law No. 231-VIII (November 2025).
Kazakhstan channels regulated crypto activity through the Astana International Financial Centre (AIFC), whose regulator, the Astana Financial Services Authority (AFSA), licenses digital-asset businesses. As of Q3 2025, 29 licensed digital asset service providers — including 12 exchanges — operated in the AIFC; trading volumes on AIFC-licensed platforms reached US$6.8 billion in January–September 2025, retail clients grew past 192,000, and 113 digital assets sat on AFSA's approved "Green List". The 2023 Law on Digital Assets (No. 193-VII) defines the asset perimeter and legalised licensed mining. In 2025 President Tokayev signed a decree "On Measures to Stimulate and Develop the Digital Asset Industry", prepared with the National Bank and the AIFC, and Law No. 231-VIII (passed 17 November 2025, part of a wider digitalisation and AI package) removed mining from the restrictive "organising digital asset turnover" classification, opening lawful mining beyond the AIFC and repealing the rule that forced miners to sell through AIFC-licensed exchanges. The amended law distinguishes backed digital assets — permitted domestically under National Bank licensing and supervision — from unbacked cryptocurrencies, whose circulation remains confined to the AIFC or special National Bank regimes; the National Bank now determines which assets may be traded domestically and supervises crypto-to-fiat providers operating in tenge.
Tax treatment
The former sale-channel obligation on licensed miners — 50% of mined assets through AIFC-licensed exchanges in 2024, raised to 75% in 2025 — was repealed entirely by Law No. 231-VIII (November 2025); miners may now choose where to sell their output. DeFi Intel has not verified current personal capital-gains guidance outside the AIFC regime.
Travel rule applicability
Status: AIFC-supervised. AFSA-licensed providers operate under the AIFC Digital Asset Activities Rules, with the National Bank co-supervising the wider framework. Specific transfer-data thresholds are pending verification.
Notable enforcement actions
- 2025–2026. The National Bank announced formation of a state crypto reserve (reported target US$500 million–1 billion), seeded with seized or repatriated assets and proceeds of state-linked mining. The AIFC-managed Alem Crypto Fund launched with its first transfer in January 2026; officials describe an exposure strategy via crypto ETFs and sector equities rather than direct coin holdings.
- 2025. November 2025 amendments lifted key restrictions on mining and trading, ending the AIFC's position as the only lawful venue for mining-related activity.
Public licensed CASP list
AFSA publishes the register of licensed firms: 29 digital asset service providers, including 12 exchanges, held AIFC licences as of Q3 2025, with 113 assets approved on the AFSA Green List. Consult AFSA's public register for current entries.
Comparison to neighbours
Compare Kazakhstan crypto regulation with three geographically adjacent jurisdictions:
Doing business in Kazakhstan — practical notes
Market entry for exchange and custody business runs through AIFC incorporation and an AFSA licence, and the Green List constrains which assets platforms may offer. The former rule routing 75% of mined assets through AIFC-licensed exchanges was repealed by Law No. 231-VIII (November 2025), and mining is now lawful nationwide. With the National Bank's oversight role consolidating in 2026 and the Alem Crypto Fund state reserve now live, the rulebook is in active flux — verify current AFSA guidance before structuring.
Methodology and sources
This profile was researched and updated by DeFi Intel's research desk on 2026-07-12 from the primary and secondary sources listed below. Claims that could not be verified against a source are omitted or marked pending — we do not republish unverified third-party datasets. Submit corrections and primary-source links to [email protected].
Sources
- The Astana Times — AIFC regulated ecosystem, US$6.8B volumes (Dec 2025)
- CryptoSlate — Law on Digital Assets No. 193-VII
- Kazinform — presidential decree on the digital asset industry
- Crypto Briefing — national crypto reserve from seized and state-mined assets
- Caspian News — restrictions on mining and trading lifted (Nov 2025)
- Lightspark country brief — Kazakhstan compliance overview (2026)
- Mondaq — Law No. 231-VIII: mining reclassified, 75% sale rule repealed, National Bank role (2025)
- gov.kz — Kazakhstan launches its first crypto reserve, the Alem Crypto Fund
- The Block — Kazakhstan US$1B crypto reserve fund plan (Bloomberg)
Track Kazakhstan regulatory developments
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Frequently asked questions
Is cryptocurrency legal in Kazakhstan in 2026?
Yes, cryptocurrency is legal in Kazakhstan via licensed venues under the AIFC, with oversight from AFSA and the National Bank of Kazakhstan.
How many licensed digital asset service providers operate in the AIFC as of Q3 2025?
As of Q3 2025, 29 licensed digital asset service providers, including 12 exchanges, operated in the AIFC.
What did Law No. 231-VIII (November 2025) change for miners in Kazakhstan?
Law No. 231-VIII removed mining from the restrictive 'organising digital asset turnover' classification, opened lawful mining beyond the AIFC, and repealed the rule forcing miners to sell through AIFC-licensed exchanges.