Kazakhstan's Regulated Crypto Market Booms Past $10 Billion
Kazakhstan's regulated cryptocurrency market has experienced significant growth over the past three years. The country started regulating its crypto industry in earnest when it adopted the 'On Digital Assets' law in 2023. Since then, the transaction volume has increased from $320 million to a staggering $10.5 billion by the end of 2025.
This growth is not limited to just transaction volume; the customer base has also expanded significantly. The number of clients in the sector rose from 53,000 in 2023 to 270,000 as of today.
The Astana Financial Services Authority (AFSA) oversees the regulated market and has registered three crypto exchange operators so far. Another five companies are currently in the process of obtaining their licenses. These exchanges have already seen significant activity, with a combined turnover reaching approximately 2 billion tenge ($4.5 million) from just two months of licensed operations.
The Kazakh government is attempting to encourage citizens to transfer their cryptocurrency holdings from foreign-based trading venues to regulated domestic exchanges. To this end, private crypto owners were recently granted a generous tax exemption in August, when President Kassym-Jomart Tokayev signed the respective decree.