To prevent tax fraud and illegal business practices, Kazakhstan is enacting new cryptocurrency legislation. The first law mandates that issuers of secured digital assets obtain government approval and are subject to oversight. The second regulation mandates that cryptocurrency miners sell at least 75% of their earnings through authorized cryptocurrency exchanges and targets unsecured digital assets.
All Kazakh permits for cryptocurrency mining are only valid for three years, and they vary depending on whether the miner controls the mining infrastructure. Kazakhstan launched the CBDC project’s pilot phase and delivered a report on the state of the Central Asian DeFi and digital assets markets. Binance has been given a perpetual license to run a platform for digital assets and offer custody services.
