Tokayev Signs Decree, Kazakhstan Says "Welcome" To Stablecoins And Stray Gas Flames 🇰🇿

Kazakhstan President Kassym-Jomart Tokayev has signed a decree aimed at building a regulated digital asset market, the Ministry of Artificial Intelligence and Digital Development (MAIDD) announced Wednesday. The order was developed jointly by MAIDD, the central bank and the Astana International Financial Centre, and is intended to increase regulatory clarity for crypto businesses, investors and digital asset service providers in the Central Asian country, which ranked third globally by estimated Bitcoin mining hash rate according to 2022 data from the Cambridge Centre for Alternative Finance (CCAF).

One key provision covers cross-border payments, with the government planning mechanisms for using digital assets and stablecoins in export and import operations while keeping transactions within a regulated framework. The decree also aims to shift crypto activity from foreign unregulated platforms into Kazakhstan's licensed digital asset infrastructure, encouraging users holding assets abroad to disclose them and transfer them to approved domestic service providers. For individuals, the government plans tax incentives for digital asset activity conducted through regulated infrastructure, including a proposed exemption from personal income tax on related income.

The order addresses energy resources by introducing a mechanism for associated petroleum gas and natural gas from oil and gas fields to be used for autonomous electricity generation when those resources are not required for state purposes, with that electricity earmarked to support digital mining operations. Separately, Kazakhstan's government has introduced a "70/30" energy model allowing data centers and digital miners to directly access up to 70% of new power generation capacity created through infrastructure upgrades.

The decree also outlines plans to develop tokenized financial instruments and national trading infrastructure as Kazakhstan seeks to attract digital asset investment. The announcement framed the package as part of broader efforts to position the country as a point of attraction for global capital and expertise in the digital asset sector, tying the move to the government's earlier engagement with initiatives such as a reported $6 billion crypto-focused project backed by Solana Company.