Regulatory AlertsKazakhstan: crypto & digital assets regulation
Partially regulatedAIFC licenses digital asset activities; Kazakhstan mainland remains unregulated
- Lead regulator
- Astana Financial Services Authority (AFSA)
- Also involved
- Second-tier banks (banking interface) · AIFC Courts (dispute resolution)
- Core law
- AIFC Rules on Digital Asset Activities (2024/2026)
- Entry capital
- —
- Approval timeline
- —
- Customer assets
- —
- Data protection
- Law on Personal Data and its Protect (2013)
- Sandbox
- —
The Astana International Financial Centre (AIFC) provides a dedicated regulatory framework for digital asset activities, governed by the AFSA. The AIFC Rules on Digital Asset Activities, effective from 1 January 2026, establish licensing requirements for various digital asset services. Outside the AIFC, Kazakhstan's mainland regulatory stance on crypto activities remains largely undefined in the provided documents, with no specific licensing regime described for the general jurisdiction.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Exchange / trading platform | LicenceDigital Asset Trading Facility Operator[1] Requires AFSA license under AIFC Rules effective 2026 | — | — | AFSA |
| Custody of client assets | LicenceDigital Asset Service Provider[1] Custody is a core digital asset service under AIFC Rules | — | — | AFSA |
| Token issuance / public offering | Uncertainverify with regulator No specific token issuance regime detailed in source documents | — | — | — |
| Broker-dealer / OTC desk | Uncertainverify with regulator Not explicitly defined as a separate category in provided texts | — | — | — |
| Stablecoin issuance | Uncertainverify with regulator No specific stablecoin regulation mentioned in source documents | — | — | — |
| Crypto payments acceptance | Uncertainverify with regulator Payments acceptance not explicitly covered in provided texts | — | — | — |
| Mining / staking services | Unregulated[1] Mining/staking not regulated under AIFC digital asset rules | — | — | — |
| Advisory / portfolio management | Uncertainverify with regulator Advisory services not explicitly defined in provided texts | — | — | — |
New — what changed recently
- 2025-12-07AIFC Rules on Digital Asset Activities (Amendments) — Amendments adopted to the AIFC Rules on Digital Asset Activities, effective 1 January 2026.[1]
- 2024-06-23AIFC Rules on Digital Asset Activities — AFSA issued comprehensive rules establishing the regulatory framework for digital asset operations in the AIFC.[1]
- 2023-12-28AIFC Rules on Cooperation of Unbacked Digital Asset Exchanges with Second-Tier Banks — Rules issued to regulate interactions between digital asset service providers and banks, focusing on AML/CFT.[2]
- 2023-11-22Guidance for AIFC Banks conducting settlement for Digital Asset Trading Facility Operators — Guidance issued to regulate banking relationships and settlement services for digital asset operators.[3]
Market-entry checklist
- 1Establish AIFC entityIncorporate a company within the Astana International Financial Centre to access the digital asset regulatory framework.
- 2Apply for AFSA licenseSubmit application to the Astana Financial Services Authority for the relevant digital asset service provider license.
- 3Secure banking partnerEstablish a relationship with an AIFC second-tier bank for settlement services, adhering to strict AML/CFT requirements.
- 4Implement AML/CFT controlsEnsure robust anti-money laundering and counter-terrorist financing systems are in place as mandated by AFSA rules.