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- licensing, regulation and supervision of the circulation of digital assets
- supervision of digital asset service providers outside the AIFC
- special regulatory regime
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Kazakhstan's national digital asset regime
Since 1 May 2026, Kazakhstan has had comprehensive regulation of the circulation of digital assets outside the AIFC. The regulator is the National Bank of the Republic of Kazakhstan.
Basis
How the regime works
Law of the Republic of Kazakhstan No. 193-VII of 6 February 2023 on Digital Assets, as amended by Law No. 259-VIII of 16 January 2026.
Agency for Regulation and Development of the Financial Market
- regulation of the circulation of digital financial assets, except stablecoins
Two types of digital assets
- unbacked digital assets (cryptocurrencies)
- digital financial assets: tokenised real-world assets, digital forms of financial instruments, money-backed stablecoins
Statuses
Digital asset service providers
The law defines the range of providers. Each has its own admission procedure.
| Status | What it does | Admission |
|---|---|---|
| Unbacked digital asset exchange operator | Dealer activity on the digital asset market: buying, selling and exchanging with clients | NBK licence for exchange operations with unbacked digital assets |
| Digital asset trading platform operator | Providing the organisational and technical infrastructure for trading through its own trading system | Registration with the NBK, entry in the register |
| Digital financial asset platform operator | Issuance and circulation of DFAs, recording and safekeeping, holder register | Registration with the NBK, entry in the register |
| AIFC participants | Digital asset activities under AIFC law | AFSA licence |
| Digital mining | Mining through an accredited mining pool and data centre | Digital mining licence; accreditation of pools |
Organising the circulation of unbacked digital assets in Kazakhstan is permitted only through licensed or registered providers, licensed AIFC participants, or within the NBK special regulatory regime. Unbacked digital assets are not recognised in Kazakhstan as a means of payment, financial instruments or financial assets.
Exchange
Exchange operator licence: what the law sets out
The licensing procedure and qualification requirements are set by the Rules for exchange operators approved by a resolution of the NBK Board of 29 April 2026.
- charter capital is formed before applying for the licence; the minimum amount is set by the NBK
- the package includes an application with information on the head of the company, documents confirming payment of capital, the charter (unless the company operates under a model charter), a document on interaction with a bank or the National Postal Operator and with a digital asset exchange or other parties providing access to assets, the operator's operating rules and a document confirming the applicant's authority
- the application is reviewed within twenty working days of submission of a complete package
- the operator must implement a transaction analysis and monitoring system
- the licence is issued in Kazakh and Russian; the operator notifies the NBK of changes to its documents within 10 working days
- the NBK sets requirements for legal form, information security, the head of the company, shareholders and beneficial owners
Special regime
NBK special regulatory regime
For new products in digital assets and payment services, the NBK may introduce a special regulatory regime.
- participants are selected on the basis of criteria approved by NBK Board resolution No. 178 (as amended)
- the project should promote competition, market development, access to services, adoption of technology or lower risks for consumers
- the applicant's business plan must match the regime's objectives
- participation is formalised by an agreement on operating within the special regime
Our work
What we do under the national regime
- classifying the model against the statuses in the law
- company registration, individual and business identification numbers (IIN/BIN), digital signatures for participants and managers
- diagnostics and gap analysis against NBK requirements
- operating rules, AML/CFT policies, risk management and internal control
- financial model, business plan, capital calculation
- technical specification and platform with a transaction analysis system
- filing and support through the review
- implementing processes after the licence is granted
- Law of the Republic of Kazakhstan No. 193-VII of 6 February 2023 on Digital Assets (Adilet legal database)
- NBK announcement of 30 April 2026 on the introduction of digital asset regulation (nationalbank.kz)
- NBK Board resolution of 29 April 2026 approving the Rules for unbacked digital asset exchange operators
- NBK Board resolution No. 178 of 11 November 2019 (as amended by No. 94 of 17 December 2025)
- Information checked as of 15 October 2026
Let us discuss your model and the right regime
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