Kazakhstan Law on Digital Assets No. 193-VII LRK

The statute establishes the legal perimeter for the issuance, circulation, exchange, storage, mining, and regulatory oversight of digital assets in Kazakhstan. Its policy objective is to support activity involving digital asset issuance, digital asset circulation, and digital mining while setting state oversight rules for market participants.

The law should be read together with the Constitutional Law on the Astana International Financial Centre, National Bank acts, financial-market rules, mining licensing rules, AML/CFT legislation, and implementing orders. The national regime also interacts with AIFC rules, because AIFC-licensed participants and digital asset exchanges are separately referenced as channels for certain digital-asset activities.

The current text recognizes digital financial assets, including assets whose underlying asset is money, such as stablecoins, as well as tokenized financial instruments, property rights, goods, and other property. It also contemplates financial instruments issued in electronic-digital form on a digital platform. Issuance and circulation rules are allocated between the National Bank and the financial-market regulator depending on the type of asset.

The 2026 consolidated framework distinguishes unsecured digital assets from digital financial assets. Activities involving the issuance or organization of circulation of unsecured digital assets are channeled through National Bank-licensed or registered operators, or through AIFC digital asset exchanges and other AIFC participants with relevant permissions. The law also states that unsecured digital assets are not recognized in Kazakhstan as a means of payment, financial instruments, or financial assets.

The law identifies digital asset service providers, including digital financial asset platform operators, digital asset trading platform operators, unsecured digital asset exchange operators, and AIFC participants holding relevant licenses. The National Bank is assigned important rulemaking and supervisory functions, including rules on registration, capital, organizational form, information security, transaction procedures, client operation limits, wallets, reporting, and supervisory response measures.

Digital mining remains a separately regulated activity. The statute defines digital miners as Kazakhstan individual entrepreneurs or legal entities engaged in digital mining, and provides that mining activity is conducted under a three-year license. The law distinguishes license subtypes based on whether the miner owns or otherwise controls a mining data center or operates mining equipment placed in such a data center.

Operators handling unsecured digital asset transactions must apply customer identification rules and, for certain transfers, collect and store sender and recipient information in accordance with Kazakhstan law. The law also creates a National Strategic Crypto Reserve framework, with management assigned to a National Bank joint-stock company providing brokerage, dealer, and investment portfolio management services.

The framework applies to the Republic of Kazakhstan and has practical relevance for digital asset issuers, service providers, miners, AIFC participants, banks interacting with licensed providers, investors, and public-sector entities involved in digital asset oversight. This profile is a reference summary only and does not provide legal, tax, investment, trading, or compliance advice.