Kazakhstan decree backs stablecoin payments, mining power and crypto tax breaks

Kazakhstan is broadening its crypto policy framework with a presidential decree signed by President Kassym-Jomart Tokayev on July 7 that supports stablecoin use in cross-border payments, tax exemptions for regulated digital asset activity, gas-powered electricity for mining and the development of tokenized financial instruments. The measure builds on the country’s 2023 Law on Digital Assets and follows licensing rules introduced on May 1, 2026, requiring unsecured digital asset exchanges to obtain licenses and trading platforms to register with the National Bank of Kazakhstan. A key provision is a planned exemption from personal income tax for individuals earning income from digital asset transactions conducted through Kazakhstan’s regulated infrastructure, creating an incentive to use licensed domestic platforms. The decree also authorizes the use of associated gas and natural gas for electricity generation for mining operations when those resources are not needed for state purposes, a more targeted approach after earlier mining-led strain on the power grid triggered blackouts, temporary restrictions and higher electricity tariffs. Authorities also want to develop mechanisms to incorporate stablecoins into cross-border settlements to support local businesses engaged in international trade, while preserving regulatory oversight. The decree further backs tokenized financial instruments, including the potential issuance of tokenized government bonds. The package was developed by the Ministry of Artificial Intelligence and Digital Development, the National Bank of Kazakhstan and the Astana International Financial Centre as Kazakhstan tries to channel crypto activity into supervised domestic markets.