Cryptocurrency in Kazakhstan

    Kazakhstan has emerged as one of the most important centers of crypto mining around the globe due to its energy resources and policy changes. The use of digital assets in retail remains at its earliest stages, although the government considers digital assets as the means of modernising its financial system.

    The digital asset sector in Kazakhstan is on the path of formalization with state-sponsored mining regulation to a digital tenge CBDC pilot. Both policymakers and startups are interested in the legal clarity and infrastructure that would enable successful crypto economy.

    This guide will be necessary to miners, regulators, fintech entrepreneurs and policy researchers who monitor blockchain innovation in Central Asia.

    Crypto in Kazakhstan – The Current Scene

    The country of Kazakhstan has one of the largest mining operations in terms of hash rate, especially in the 2021 spike. Although the retail crypto user base is currently quite small, with 2025 estimated at 4.6%, the adoption is increasing due to mining profits, stablecoin usage, and tokens exchange.

    Platforms like Binance remain active through strategic MoUs with authorities, while local users engage in both regulated and grey-market trading. With 90% of transactions still outside legal channels, authorities are cracking down on unlicensed activity and advocating greater transparency.

    Kazakhstan’s Key Timeline of Crypto Developments

    2021:

    • Kazakhstan becomes the 2nd largest Bitcoin mining hub globally.
    • Digital tenge CBDC pilot plans were announced.

    2022:

    • Energy taxes on miners introduced.
    • Binance signs a MoU with the government to combat crypto crime.

    2023:

    • Digital Asset Law No. 193-VII comes into force.
    • 415,000 mining rigs registered, 84 licenses granted.

    2024:

    • 36 illegal exchanges shut down; 5,500 online platforms blocked.
    • 75% of mining profits were mandated to go through AIFC platforms.

    2025:

    • Central bank preps full digital asset legislation.
    • MoU signed with Binance to build crypto payment infrastructure.

    Kazakhstan’s Crypto Market Overview

    Mining dominates Kazakhstan’s crypto economy, supported by institutional infrastructure at the Astana International Financial Centre (AIFC). Crypto-related revenues are forecast to surpass $100 million in 2025, although most trading remains unregulated.

    As more platforms seek official licensing, growth in DeFi use and crypto banking proposals reflects a transition from mining-based revenues to a diversified crypto economy. Vice-Minister Kanysh Tuleushin envisions regulated ATMs, nationwide digital trading, and a 70/30 energy-sharing model with miners.

    Regulation of Crypto in Kazakhstan

    Kazakhstan is also taking a gradual but stern direction in regulating crypto. The 2023 Digital Asset Law gives a legal framework to mining and token issuance, and new proposals will license fiat-crypto converters and ban unauthorized tokens.

    The government has not stopped to incorporate crypto in the financial regulation, such as a crypto asset reserve within the central bank, digital asset sandboxes, and national compliance standards. The governments seek to decrease off-chain transactions and encourage consumer safety by decriminalizing regulated exchanges.

    Read More

    Kazakhstan Crypto Exchanges & Platforms

    Kazakhstan lacks homegrown exchanges at scale but relies heavily on global platforms. Binance maintains a strong local presence under government MoUs. Other international platforms like Coinbase have been restricted for non-compliance.

    As legal clarity improves, local exchanges could emerge with strong compliance features, AIFC licensing, and connections to mobile payment systems. These could close the gap between Kazakhstan’s mining strength and its underdeveloped retail crypto access.

    Cryptocurrency Wallets in Kazakhstan

    Wallet usage in Kazakhstan is mobile-first and dominated by global apps like Trust Wallet and MetaMask. Cold storage via Ledger and Trezor is used by large miners and institutional holders.

    The government has not yet issued local wallet guidelines, but future regulatory frameworks are likely to include wallet KYC requirements and integration with licensed exchanges. Scams and illegal transfers remain a concern, driving interest in a national custody platform or crypto bank.

    Taxation of Cryptocurrency in Kazakhstan

    Kazakhstan currently taxes miners at a flat 15% rate and requires the sale of 75% of mined crypto on AIFC exchanges. However, profits from general crypto trading are not yet clearly defined under tax law.

    Future tax rules are expected to include:

    • Capital gains tax for traders
    • Income tax for DeFi and staking returns
    • Licensing obligations for exchanges and wallet services
    • Reporting frameworks for fiat conversions and OTC trading

    Crypto Community & Education in Kazakhstan

    Efforts to educate the people of Kazakhstan about crypto are minimal but increasing. Blockchain panels and workshops are now being held in university research collaborations, AIFC fintech labs and digital forums.

    The miners and the legal platforms in the financial future have been discussed in Kazakhstan Blockchain Week and national think tanks. Meetups of local developers and investment seminars are devoted to compliance, the integration of CBDC, and the synergies of crypto-finance.

    The Future of Cryptocurrency in Kazakhstan

    Kazakhstan is taking deliberate steps toward becoming Central Asia’s blockchain leader. With formalized mining laws, a CBDC launch, and active dialogue between regulators and private actors, the ecosystem is maturing fast.

    Expectations for 2026 include:

    • Fully licensed digital exchanges under AIFC
    • Crypto banks offering custody and legal trading
    • Implementation of the digital tenge across state procurement
    • National compliance rules for wallet apps and token usage

    Kazakhstan with favorable legislation and mining powered by energy will be able to shift mining into a full-fledged crypto finance system.

    Frequently Asked Questions (FAQs)

    1. Is crypto legal in Kazakhstan in 2025?

    Yes. Mining and regulated exchanges are legal. The government is expanding licensing to fiat conversion services.

    2. Can you buy Bitcoin in Kazakhstan?

    Yes. Regulated exchanges via AIFC support crypto purchases, and Binance operates under MoU terms.

    3. Is crypto profit taxed in Kazakhstan?

    Yes, miners are taxed at 15%. Trading profits may be taxed under future legislation.

    4. Is it legal to mine Bitcoin in Kazakhstan?

    Yes. Licensed mining is legal and regulated, with taxes and energy rules in place.

    5. Are there local crypto exchanges in Kazakhstan?

    Currently, no major ones, but development is expected under AIFC’s legal framework.

    6. Is the digital tenge available in 2025?

    Yes, the CBDC is expected to launch by late 2025 for public procurement pilots.

    7. How are scams handled in Kazakhstan?

    Authorities shut down illegal exchanges and seized rigs. Legal protections are improving via compliance rules.

    8. Can crypto help balance Kazakhstan’s energy use?

    Yes. The proposed 70/30 energy plan lets miners use surplus grid power in exchange for infrastructure investment.

    9. Is Kazakhstan a good place for crypto startups?

    Yes, if licensed. AIFC offers a structured legal zone, and crypto banks are being explored.

    10. Will crypto be integrated with banks in Kazakhstan?

    Yes. Lawmakers are proposing crypto banks to offer legal custody and exchanges.