Tokayev's Decree Drops Stablecoin Rails, Tax Perks & Gas-Fired Hashrate in Kazakhstan 🇰🇿

Kazakhstan President Kassym-Jomart Tokayev signed a decree on the 7th of July directing the creation of a regulated digital asset market, according to an announcement from the Ministry of Artificial Intelligence and Digital Development (MAIDD). The order, developed jointly by MAIDD, the National Bank and the Astana International Financial Centre, sets rules for stablecoin payments, tax incentives for crypto activity conducted through licensed domestic infrastructure, and a framework for digital mining. The government said the package is designed to bring crypto activity currently sitting on foreign unregulated platforms under Kazakh supervision while preserving transparency for investors and service providers.

Under the tax provisions, individuals would be exempt from personal income tax on income generated from cryptocurrency transactions routed through approved domestic service providers. Users holding digital assets abroad are being encouraged to disclose those holdings and transfer them to licensed local providers, with the tax relief tied to activity on regulated infrastructure. Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development Zhaslan Madiyev framed the policy as a capital-attraction measure, stating, "We are creating an environment where digital assets become as familiar and secure as traditional financial instruments. Our goal is to make Kazakhstan a point of attraction for global capital and expertise while ensuring maximum transparency and protection for every participant in this market."

The decree also targets payments modernization, directing the creation of mechanisms for digital assets and stablecoins to be used in cross-border settlements for export and import operations. Alongside that, the government outlined plans to develop tokenized financial instruments and national trading infrastructure intended to channel digital asset investment into the country. Kazakhstan ranked 16th in the Asia-Pacific region on crypto adoption and third globally by estimated Bitcoin mining hashrate at 13% monthly market share, behind the United States at 37% and China at 21%, according to Cambridge Centre for Alternative Finance data published in 2022.

On the energy side, the order introduces 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 the resulting electricity available to support digital mining. A separate "70/30" energy model will allow data centers and digital miners to directly access up to 70% of new power generation capacity created through infrastructure upgrades. The measures add an energy component to Kazakhstan's broader crypto strategy as the country seeks to position itself as a regulated hub alongside jurisdictions including the UAE, the EU and Singapore.