In his annual address on September 8, 2025, President Kassym-Jomart Tokayev of Kazakhstan outlined a strategic roadmap for integrating digital assets into the national economy. He instructed the Agency for Regulation and Development of the Financial Market to draft a comprehensive digital asset law, with parliamentary approval targeted before 2026. The proposed legislation is expected to define regulatory standards for cryptocurrency exchanges, custodians, and related service providers.
Tokayev emphasized the creation of a State Fund of Digital Assets under the National Bank’s Investment Corporation. This entity would accumulate a strategic reserve of “promising” cryptocurrencies selected by expert committees. The reserve aims to diversify national assets and capitalize on growth within the digital finance sector. The blueprint follows reports that the central bank had considered funding a crypto reserve using seized digital assets.
The president also confirmed plans for a pilot ‘CryptoCity’ in Alatau, a southeastern urban center, to serve as a testing ground for crypto-based payments in retail and public services. The city will feature digital kiosks for transaction settlements in approved tokens and support blockchain development hubs. Authorities anticipate that the pilot zone will attract investment from fintech firms and promote local innovation.
Kazakhstan ranks among the top global Bitcoin mining hubs, accounting for up to 13 percent of the network’s hashrate at its peak. While mining contributed to a surge in economic activity, it raised concerns over illegal operations and grid strain. The new measures aim to harness mining benefits under tighter regulatory oversight, protecting energy infrastructure and ensuring sustainable growth.
The president’s proposals align Kazakhstan with other nations exploring official crypto reserves, including steps taken by the US executive branch earlier in 2025. Observers suggest that a clear legal framework and strategic reserves could position the country as a regional hub for blockchain development and financial innovation.
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