A decree intended to foster a regulated digital asset marketplace in Kazakhstan was formally signed by President Kassym-Jomart Tokayev, as announced by the Ministry of Artificial Intelligence and Digital Development (MAIDD) on Wednesday.

This executive order, which was collaboratively formulated by MAIDD, the nation's central bank, and the Astana International Financial Centre, is anticipated to provide greater regulatory certainty for those involved in crypto businesses, investment, and digital asset services. This action clearly indicates Kazakhstan's ongoing commitment to growing its involvement in the cryptocurrency industry and cementing its status as a significant global crypto hub.

A principal focus of the decree involves modernizing Kazakhstan’s existing payment systems. This includes establishing frameworks that permit the utilization of digital assets and stablecoins within cross-border settlement processes. The government anticipates that incorporating digital assets into the country's financial apparatus, while maintaining regulatory oversight, could provide support for import and export ventures.

Furthermore, the order seeks to redirect crypto-related operations away from unaffiliated, international platforms and into Kazakhstan's licensed digital asset infrastructure. Individuals possessing digital assets held overseas will be incentivized to report these holdings and move them to officially accredited domestic service providers.

For individual participants, the government is planning tax benefits related to digital asset operations conducted via regulated channels. This includes a proposal to exempt income derived from such activities from personal income tax obligations.

The measure also addresses the utilization of the nation’s energy resources. It establishes a system allowing associated petroleum gas and natural gas extracted from oil and gas fields to power autonomous electricity generation facilities, provided those resources are not required for national needs. This generated electricity can then be channeled to support digital mining activities, effectively integrating an energy component into Kazakhstan's broader cryptocurrency strategy, according to the announcement.

Independently, the Kazakh administration has previously enacted a “70/30” energy framework. This model grants data centers and digital miners access to as much as 70% of the capacity from new power generation sources developed through infrastructure enhancements.

The decree also details strategies for developing tokenized financial instruments and a domestic trading infrastructure, reflecting the Central Asian nation's ambition to draw in digital asset investment.

MAIDD Minister Zhaslan Madiyev stated the guiding principle behind these initiatives: “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.”