Catenaa, Sunday, January 25, 2026- Kazakhstan has enacted new legislation giving the central bank authority to approve which cryptocurrencies may be traded on regulated exchanges, tightening rules on “unsecured” digital assets such as Bitcoin and Ethereum.
The law introduces a three-tier framework for digital financial assets, covering stablecoins, asset-backed tokens, and electronically issued financial instruments.
Under the framework, digital platform operators must obtain licenses and comply with traditional financial regulations, including risk management and investor protection standards.
The National Bank will maintain a list of approved cryptocurrencies and impose operational limits on exchanges.
Crypto exchanges and market infrastructure participants will be subject to anti-money laundering and counter-terrorist financing monitoring.
The legislation follows an aggressive crackdown on unauthorized crypto activity.
Authorities shut down 130 unlicensed exchanges in October 2024, seizing $16.7 million in virtual assets, and blocked over 3,500 illegal online platforms during 2023–2024.
Cash withdrawals through ATMs remain a regulatory concern, as anonymous transactions allow criminal use of digital assets.
Despite strict enforcement, Kazakhstan is pursuing regulated digital asset initiatives.
Plans include licensed crypto banks providing exchange services, custody, and transaction processing.
Officials also aim to establish a national cryptocurrency reserve fund valued between $500 million and $1 billion by early 2026.
The fund will avoid direct exposure to volatile cryptocurrencies and focus on regulated investment opportunities.
The legislation positions Kazakhstan as a tightly regulated but strategically progressive player in digital assets, balancing investor protection with controlled innovation in the crypto sector.
