Kazakhstan to become ‘Central Asia’s crypto hub’ with reforms: Minister
Kazakhstan aims to become a leading crypto hub in Central Asia by easing regulatory restrictions, according to Kanysh Tuleushin, the first vice minister of digital development. He advocates for lifting restrictions on digital asset trading, which could significantly boost the national budget through broader legalization and taxation. Tuleushin emphasizes the role of crypto mining in modernizing the energy infrastructure, proposing that miners could help balance the power grid and utilize associated petroleum gas for data centers. The crypto mining sector has contributed $34.6 million in taxes, with 415,000 mining machines registered. Crypto trading on the Astana International Financial Centre (AIFC) exchange increased from $324 million in 2023 to $1.4 billion in 2024. However, 91.5% of crypto transactions remain unregulated outside the AIFC, prompting authorities to shut down illegal exchanges. Kazakhstan is also developing a central bank digital currency, the digital tenge, with a planned launch in 2025. Other Central Asian countries are adopting friendly policies toward digital assets.
