Kazakhstan is actively implementing regulatory measures to control the cryptocurrency market by blocking exchanges operating without proper licenses.
Blocking Unlicensed Exchanges
Kazakhstan continues to enhance its control over digital assets by blocking the operation of cryptocurrency exchanges without a license. Earlier, assets totaling $4.8 million in USDT were frozen. The agency emphasized increased measures against the criminal use of cryptocurrencies and introduced legislative changes to penalize digital asset providers for money laundering violations.
Attracting Crypto Companies and Miners
Kazakhstan has become an attractive location for cryptocurrency companies due to its cheap electricity. The country ranks among the top four in cryptocurrency mining and continues to attract investments. The National Bank of Kazakhstan is also exploring the potential for a central bank digital currency.
Growing Interest in Cryptocurrencies
Cryptocurrency usage in Kazakhstan increased by 39.1% in 2024. Most users are young men aged 25 to 44, indicating a technologically savvy population interested in digital assets.
Kazakhstan is rapidly growing in the cryptocurrency market, refining its legislation and attracting investors and miners, making it competitive on a global scale.
