Kazakhstan Crypto Market Surpasses $10 Billion

Kazakhstan's regulated cryptocurrency market has surpassed $10 billion in annual trading turnover. The figure is up from $320 million in 2023, and the number of users rose to 215,000 over the same period.

The country's growth is attributed to its initial crypto market pilot with the Astana International Financial Centre and financial regulators. Launched in 2022, the pilot tested a regulatory framework for cryptocurrency exchanges before becoming the basis for a licensing and operating system within the AIFC.

Kazakhstan has continued building regulatory infrastructure around the growing market. The country plans to establish a national crypto analytics center to monitor fiat payments, cryptocurrency transfers, wallets, and customer information. This move is aimed at connecting with its existing Anti-Fraud Center and providing access to verification tools for banks, law enforcement agencies, and licensed digital asset providers.