Kazakhstan aims to develop its cryptocurrency economy by proposing new measures for promoting and regulating digital assets.
Regulatory Reforms
Kanysh Tuleushin, the first vice minister of digital development of Kazakhstan, stated that lifting restrictions on digital asset trading could significantly boost the economy and add hundreds of billions of tenge to the national budget. He emphasizes the need for comprehensive crypto regulations, including legalizing trading exchanges and deploying legal crypto ATMs. According to him, these measures will attract investment and stimulate growth in the sector.
Mining and Energy Integration
A key element of Kazakhstan's strategy involves integrating crypto mining with the country's energy infrastructure. Tuleushin noted that crypto miners could help stabilize the power grid by consuming surplus energy. The 70/30 energy initiative allows foreign investors to upgrade thermal power plants, where 70% of the energy goes to the national grid and 30% is allocated to miners. Additionally, the plan includes using associated petroleum gas from oil fields to power data centers, reducing emissions and generating revenue for oil producers.
Development of Crypto Infrastructure
Kazakhstan's crypto industry has already contributed $34.6 million in taxes over the past three years. The government has registered 415,000 mining machines, issued 84 licenses, and accredited five mining pools. Crypto trading on the Astana International Financial Centre (AIFC) exchange surged from $324 million in 2023 to $1.4 billion in 2024, with new regulations requiring miners to sell 75% of mined assets through AIFC platforms starting in 2025.
Regulatory reforms and energy integration plans could help position Kazakhstan as the premier crypto hub in Central Asia, fostering investment and blockchain innovation.
