Kazakhstan president signs decree to accelerate crypto adoption

A key aspect of the decree is the integration of stablecoins into Kazakhstan's cross-border trade infrastructure, potentially facilitating export and import operations within a regulated framework. The government also intends to encourage users to move their digital assets from unregulated foreign platforms to licensed domestic service providers.

Individuals engaging in digital asset activities through regulated channels can expect tax incentives, including a proposed exemption from personal income tax. Furthermore, the decree addresses energy concerns for crypto mining by establishing a system to utilize associated petroleum gas and natural gas for autonomous electricity generation, particularly when these resources are not required for state purposes.

Kazakhstan, which was ranked third globally in Bitcoin mining hash rate in 2022, is also implementing a "70/30" energy model that grants data centers and digital miners access to up to 70% of new power generation capacity from infrastructure upgrades. The country also plans to develop tokenized financial instruments and national trading infrastructure, with the stated goal of attracting global capital and expertise while ensuring market transparency and participant protection.