Kazakhstan is making big moves to become the leading crypto hub in Central Asia, and it’s all starting with new reforms that could open the door to faster adoption and more innovation.
In a recent op-ed, Kanysh Tuleushin, Kazakhstan’s Vice Minister of Digital Development, shared his vision of turning the country into a blockchain-friendly zone by lifting crypto restrictions and updating regulations.
“If digital asset trading is fully legalized across Kazakhstan, the impact could be huge,” Tuleushin said.
What’s Kazakhstan Planning?
Tuleushin believes a more open crypto environment could bring in billions of tenge to the national economy through proper taxation. He also called for:
- A clear legal framework for crypto exchanges
- Nationwide rules for digital assets
- The legal use of crypto ATMs
Miners Could Help Modernize the Grid
Kazakhstan already has a strong mining presence, but the government wants to make it even more efficient. Tuleushin said that mining firms could help balance the national power grid, especially by using surplus energy and associated gas from oil fields to run data centers.
There’s also a 70/30 energy policy in place where investors fund power plant upgrades:
- 70% of power goes to the national grid
- 30% is reserved for mining
This approach not only supports green energy goals but also turns excess resources into economic value.
Crypto Growth in Numbers
Kazakhstan’s crypto stats are already impressive:
- 415,000 mining machines officially registered
- $34.6 million paid in crypto mining taxes since 2021
- Crypto trading on the AIFC exchange jumped from $324M in 2023 to $1.4B in 2024
- Starting 2025, miners must sell 75% of their coins through AIFC-regulated platforms
The Roadblocks: Illegal Trading
Despite this growth, the country still struggles with unregulated crypto trades. In 2023, an estimated $4.1 billion in crypto turnover happened outside government oversight — that’s more than 91% of the market.
Authorities have already cracked down:
- 36 illegal exchanges shut down
- $4.8 million in assets frozen
- Two Ponzi schemes dismantled
Kazakhstan’s CBDC and Regional Competition
Kazakhstan is also developing its own central bank digital currency (CBDC) — the digital tenge — expected to launch in 2025.
Meanwhile, other Central Asian countries like Uzbekistan and Kyrgyzstan are stepping up too. Binance just signed an MOU with Kyrgyzstan to help develop crypto payment systems and education programs.
Final Thoughts
Kazakhstan’s digital leaders are pushing for a future where crypto is regulated, accessible, and fully integrated into the economy. With the right reforms and oversight, the country could soon be a regional leader in blockchain innovation — not just in mining, but across the full Web3 ecosystem.
