The National Bank of Kazakhstan has announced the establishment of a state provider for the legal exchange of cryptocurrencies, which will be an important component of the strategic development of digital finance in the country. According to the head of the regulator, Timur Suleimenov, this step will make crypto asset exchange accessible throughout Kazakhstan, rather than just through the international financial center “Astana”.
This is reported by Business • Media
New Draft Law and Digitalization Strategy
According to information, a new law on banks with amendments regarding crypto assets is planned to be adopted by August 2025. As part of this initiative, the National Bank will focus on four main areas: tokenization of traditional assets, legalization of cryptocurrency exchange, launching a stablecoin based on the digital tenge, and creating a “regulatory sandbox” for testing new financial products.
“Each of the areas is planned to be regulated by separate rules,” Suleimenov noted.
Security and Integration with Financial Platforms
Particular attention is being paid to the creation of a licensed operator that will ensure the secure exchange of digital assets. This is expected to reduce dependence on unregulated foreign platforms and minimize risks for citizens. Initially, the volumes of cryptocurrency purchases for individuals will be limited to prevent mass speculative trading.
Cryptocurrency will not receive the status of a means of payment. At the same time, the future provider will be integrated with existing platforms within the Astana International Financial Center (AIFC), creating a unified ecosystem for the secure storage and trading of crypto assets.
Launch of Stablecoin and Development of Digital Ecosystem
Regional regulators are considering the possibility of launching a stablecoin “Crypto-CT” backed by the digital tenge. It is planned to be used for settlements in cryptocurrency transactions and to protect value in conditions of high market volatility. The new instrument will come into circulation after risk assessments and testing are completed.
To support new digital solutions in Kazakhstan, a “regulatory sandbox” is being created where participants can launch innovative projects under the supervision of the relevant authorities. At the same time, the establishment of crypto banks is not planned — this function will be performed by the digital ecosystem, emphasized the head of the National Bank.