Introduction to New Digital Asset Laws
Kazakhstan has approved new legislation establishing comprehensive rules for digital assets. President Kassym-Jomart Tokayev signed laws defining the issuance, trading, and oversight of cryptocurrencies and digital financial assets (DFAs). The National Bank of Kazakhstan (NBK) will license exchanges and approve which cryptocurrencies can operate on regulated platforms, aiming to secure the market for investors.
The laws create a new asset class called digital financial assets, divided into three categories: stablecoins, assets backed by financial instruments or property, and electronic financial instruments.
Regulatory Oversight and Asset Classification
The Agency for Regulation and Development of the Financial Market (ARDFM) is tasked with drafting rules on issuing, using, and redeeming DFAs. Notably, new platforms issuing DFAs must obtain NBK licenses.
DFAs will follow regulations similar to traditional financial instruments, including risk management, disclosure requirements, and investor protections. This framework allows digital assets to integrate into Kazakhstan’s existing financial system.
Unsecured cryptocurrencies such as Bitcoin and Ether will face strict NBK controls, including approval for trading and operational limits on exchanges.
Central Bank Powers and Banking Law Updates
The NBK now serves as the main regulator for digital assets in Kazakhstan. Exchanges without NBK licenses cannot operate legally. The central bank will also maintain a list of approved cryptocurrencies, protecting investors from high-risk or fraudulent assets.
According to the new law, licensed banks can now handle and issue digital assets, including stablecoins and tokenized real-world assets, integrating them into conventional banking services.
These updates merge crypto oversight with existing banking laws. Customers may soon access crypto products directly through banks, rather than unregulated platforms. The regulatory framework also enforces anti-money laundering compliance, including wallet tracking and the “travel rule” for transaction transparency.
Kazakhstan's Ambitions as a Crypto Hub
Kazakhstan aims to become a regional crypto hub while maintaining market stability. Previous initiatives include stablecoin payments and Bitcoin ETFs launched in 2025. The new regulations provide the NBK authority to license exchanges, approve tradable assets, and impose limits, ensuring that trading occurs within legal and monitored channels. Observers note these measures could shape investor behavior and trading activity in the country.