Kazakhstan’s President Kassym-Jomart Tokayev has signed legislation establishing a framework to regulate digital assets, including cryptocurrencies like Bitcoin (BTC).
Tokayev signed the laws “On Banks and Banking Activities” and “On Amendments and Supplements to Certain Legislative Acts on the Regulation and Development of the Financial Market, Communications, and Bankruptcy.”
The new rules introduce a classification for digital assets, encompassing stablecoins, assets backed by financial instruments and property, and financial instruments issued in electronic digital form.
The National Bank of Kazakhstan (NBK) will serve as the primary regulator for the digital asset sector. This authority includes granting licenses to exchanges, approving cryptocurrencies for circulation, and setting limits on trading activities conducted on regulated platforms.
Kazakhstan's New Asset Class: Three Types of Digital Financial Assets
A central component of the recently signed legislation is the introduction of a new asset class, defined as three types of “digital financial assets” (DFAs).
The Agency for Regulation and Development of the Financial Market (ARDFM), which developed these laws, will be responsible for establishing the requirements for the issuance, circulation, and redemption of DFAs, with the exception of stablecoins.
New operators of digital platforms that function as DFA issuers will require licensing from the central bank. DFAs will also be subject to regulations analogous to those for traditional financial instruments, covering aspects such as risk management, information disclosure, and investor protection.
Cryptocurrencies Included with Strict Requirements
The legislation also addresses cryptocurrencies, such as Bitcoin (BTC) and Ether (ETH), which are categorized as “unsecured digital assets.”
The law facilitates the establishment of cryptocurrency exchange organizations, whose operations will be licensed and overseen by the NBK.
To ensure investor protection, the central bank will maintain a list of approved crypto assets eligible for circulation. Additionally, the NBK will implement limits and restrictions on cryptocurrency exchange operations.
Cointelegraph sought comments from ARDFM regarding the list of permitted crypto assets and other regulatory details but had not received a response at the time of publication.
Kazakhstan’s approach to digital asset regulation is consistent with its strategic goals to become a leading regional industry hub in Central Asia. The country has been actively integrating stablecoin payments and witnessed the introduction of Bitcoin exchange-traded funds in 2025. Furthermore, Kazakhstan is recognized as a significant participant in global cryptocurrency mining.