Kazakhstan’s Regulator Backs Unified Crypto Exchange Initiative

Kazakhstan’s National Bank plans to regulate cryptocurrency circulation nationwide by establishing a licensed national exchange. This was reported by local media, citing a statement from the regulator’s head, Timur Suleimenov.

The new provider will replace unregulated foreign platforms, offering broader capabilities than the crypto projects currently available at the AIFC.

These changes are expected to be included in the new Banking Law, set for adoption in August 2025.

The law will also address:

• the issuance of digital financial assets (DFA) and the tokenization of TradFi instruments;
• the creation of a stablecoin backed by digital tenge;
• the testing of new products in experimental legal regimes.

Suleimenov highlighted the importance of a national crypto provider in light of the growing public demand for cryptocurrency trading.

“This will bring cryptocurrency transactions out of the shadows, ensure their transparency, enhance consumer rights protection, and strengthen control over digital asset circulation,” noted the head of the National Bank.

In the initial phase of the exchange’s launch, citizens will be allowed to conduct transactions in limited volumes to protect inexperienced market participants. The use of cryptocurrencies for payments within the country will remain prohibited.

Earlier, deputies of Kazakhstan’s Mazhilis proposed the idea of establishing a crypto bank to regulate the industry.

Back in January, the National Bank announced the development of a concept for an investment stablecoin.