Kazakhstan will expand the use of stablecoins and support digital mining

Kazakhstan's President Kassym-Jomart Tokayev has signed a decree titled "On Measures to Stimulate and Develop the Digital Assets Industry in the Republic of Kazakhstan." The document aims to develop a regulated market for digital assets, expand the use of digital financial technologies, and enhance the investment attractiveness of the sector.

The decree was developed by the Ministry of Artificial Intelligence and Digital Development in collaboration with the National Bank, relevant state bodies, and the International Financial Center "Astana."

A key focus of the document will be the modernization of payment infrastructure. Authorities plan to develop mechanisms for using digital assets and stablecoins for cross-border settlements, which will expand opportunities for Kazakhstani businesses in conducting export-import operations.

The document also includes measures to bring cryptocurrency transactions into a regulated legal framework. It plans to create conditions for the voluntary disclosure of digital assets previously listed on foreign unregulated platforms, followed by their transfer to platforms operated by Kazakhstani providers. Additionally, it proposes exempting individuals from personal income tax on income derived from transactions with digital assets conducted through Kazakhstan's regulated infrastructure.

A separate section addresses digital mining. The decree provides for the use of associated petroleum gas and natural gas for autonomous electricity generation, which can be directed to the needs of mining enterprises when these resources are not required for state needs.

The document also outlines the development direction for tokenized financial instruments and national trading infrastructure. Implementation of these initiatives will be formalized in a separate action plan with established deadlines and responsible executors.