kazakhstan

Hey there! Interesting crypto news coming out of Kazakhstan. The situation is developing along the lines of "giving with one hand and taking away with the other." Let's break down what's happening and what it means for investors and the market.
The news in a nutshell:
Authorities in Kazakhstan are paving the way for legalizing cryptocurrency investments through regulated exchanges, while simultaneously moving to prohibit the use of crypto for payments for goods and services within the country.
Key points you need to know:
Regulation instead of prohibition. A bill is currently in the Senate that will, for the first time at the national level (beyond just the AIFC – the local fintech hub), allow the creation of crypto exchanges. These will be supervised by the National Bank of Kazakhstan (NBK). This is a major step towards market legalization.A clear separation: Investment vs. Payments.What will be allowed: Buying, selling, and holding cryptocurrency as an investment asset on approved platforms.What will not be allowed: Using crypto to pay for coffee or goods in an online store. Payments will remain prohibited.A "white" exit from the "gray" zone. Currently, only about 5% of Kazakh crypto investors use licensed (within the AIFC) exchanges. The rest operate on unregulated "gray" platforms. The new law aims to legalize this huge segment, bringing it into the light and under the regulator's protection.Control through a "whitelist." The regulator (AFSA) will compile a list of approved crypto assets for trading. This is a measure to protect inexperienced investors from outright scams.But it's not all black and white regarding payments.There's a loophole: The "CryptoCity" project in Alatau aims to create a pilot zone where crypto payments would be permitted.Furthermore, the state itself is actively looking toward crypto assets: $300 million has already been allocated to form a strategic national crypto reserve, and the National Bank is considering converting part of its foreign exchange and gold reserves into crypto.
Why this path?
Kazakhstan, which became a major mining hub after China's crackdown, is trying to control and benefit from the crypto industry (through taxes, licenses, investment inflows) while safeguarding its financial system. The complete ban on payments is an attempt to maintain the sovereignty of the national currency (the tenge) and prevent capital from escaping control.
The bottom line?
Kazakhstan is choosing a regulatory model akin to some Asian countries like South Korea: crypto is a digital asset/commodity for investment and speculation, but not a payment instrument. This provides the market with long-awaited clarity and legal status, which could attract more institutional players.
Now a question for you, fellow investors:
Do you think this model – "investments yes, payments no" – is a sustainable and progressive path for a state, or is it a half-measure that will hinder real technology adoption? And can the pilot "CryptoCity" change the rules of the game in the future?
Share your thoughts in the comments! Interested to hear different viewpoints.
#Kazakhstan #CryptoNewss #crypto

Національний банк Казахстану підтримав ініціативу депутатів Мажилісу щодо створення державного криптовалютного резерву, який може складатися з конфіскованих $BTC . Про це 30 червня 2025 року заявив голова регулятора Тимур Сулейменов, повідомляє Kursiv. Резерв планується використовувати для зберігання частини державних активів у криптовалюті, участі в цифровій економіці та підтримки розвитку галузі.
Міністерство цифрового розвитку Казахстану порівнює майбутній резерв із Національним фондом, який акумулює доходи від сировинного сектору для стабілізації економіки. За приклад беруться Швейцарія, Сінгапур та ОАЕ, де активно використовують токенізовані активи. Поки не визначено, які криптовалюти увійдуть до резерву та чи будуть вони купуватися за бюджетні кошти. Депутат Олжас Куспеков запропонував зберігати в резерві активи, конфісковані в кримінальних справах, але Нацбанк вважає окремий фонд для цього непотрібним, оскільки криптоактиви прирівняні до майна.
Ініціатива перебуває на стадії розробки, деталі та строки реалізації уточнюються. Слідкуйте за новинами на #MiningUpdates
#Bitcoin #CryptoReserve #Kazakhstan #blockchain #CryptoNews #DigitalEconomy #BitcoinReserve #MiningUpdates

📅 July 14, 2025 | Nur-Sultan, Kazakhstan
While the West is divided between regulations and prohibitions, a silent central Asian giant plans to take a step that could reconfigure the global cryptocurrency board. Today a report was leaked that shook The Block and put Wall Street analysts: the Kazakhstan government is studying to invest a part of its national reserves - valued at more than 50,000 million dollars - in Bitcoin and other cryptocurrencies. In a world that is increasingly afraid of inflation, sanctions and dependence on the dollar, this play would turn Kazakhstan into the first country in the region to use crypto as a strategic reserve asset. Are we facing the birth of a new El Salvador, but with oil, uranium and vast Blockchain mining centers?
Kazakhstan was already news in the crypto industry for being one of the favorite destinations of Miners of Bitcoin displaced from China after the prohibition of 2021. His vast fields, cheap energy and cold climate made him a magnet for large -scale mining farms. But nobody expected that this country of 19 million inhabitants, governed with a firm hand from the post-Soviet era, will now be raised crypto into part of its national financial shield.
The report, quoted by The Block, points out that the Kazakhstan National Bank is evaluating between 1% and 3% of its international reserves to Bitcoin, Ethereum and potentially regulated Stablecoins. The official motivation: diversify exposure to the dollar and the euro, shield against international sanctions and open a direct bridge to the global digital economy.
An anonymous source within the Ministry of Finance told The Block: "We do not want to stay behind if the next generation of reserves is not stored in gold, but in digital assets. It is a calculated risk play, but necessary not to depend only on commodities."
If specified, Kazakhstan would follow the route that El Salvador marked in 2021, although on a much larger scale. Unlike the Central American country, Kazakhstan has one of the world's largest uranium reserves, large exports of oil and gas, and a mining infrastructure that already houses about 8% of Bitcoin's global hashrate.
However, the risks are enormous: the volatility of Bitcoin, the pressure of the IMF and the multilateral banks, and the possibility of sanctions of the West if Kazakhstan is perceived to use crypto to overcome financial restrictions. The country also has a history of power cuts to miners when the electricity demand shoots in winter, which could complicate the stable crypto "crypto shelter."
At the local level, the news polarized politicians and businessmen. The most aligned sectors with the old guard prefer to continue investing in gold and traditional sovereign bonds. The youngest and technologists, on the other hand, see in this move the opportunity to make the country a digital asset hub for all Eurasia, attracting startups, exchanges and foreign capital.
The announcement is not yet official, but nearby sources say that a proposal draft will be presented to Parliament before September. If approved, Kazakhstan could buy his first BTC and ETH before closing the fiscal year.
International markets closely look at: an emerging country that puts part of their crypto reserves would validate Bitcoin as state reserve assets, something that until now only El Salvador has done symbolically and that some sovereign funds in the Middle East study discreetly.
Topic Opinion:
I can't stop applauding Kazakhstan's daring if this is completed. From the Chinese prohibition, we knew that Central Asia had potential to become a crypto lung. What we did not see was that they would take another step and put national reserves in Bitcoin and Ethereum. This could nerve great powers and organisms, but would also validate the blockchain as a geopolitical asset. Hopefully more countries understand that it is not just about undermining or specular, but about diversifying risks and opening doors to a more transparent and connected economy. As I always say: whoever understands before, wins first.

💬 Do you think Kazakhstan will dare to convert crypt into part of his official reserves? Could this inspire other countries rich in resources to do the same?
Leave your comment ...
#Kazakhstan #bitcoin #ethereum #blockchain #CryptoNews

Evo, un stablecoin respaldado por el tenge, fue lanzado hoy por el Banco Nacional de Kazajistán. El stablecoin se presenta junto a Mastercard y Solana, una importante plataforma de contratos inteligentes.
Kazajistán lanza el stablecoin Evo impulsado por Solana
Kazajistán lanzó hoy una prueba para su stablecoin respaldado por el tenge, Evo. La moneda de Kazajistán es el tenge.
El comunicado establece que otros jugadores del sandbox regulatorio de activos digitales supervisarían la emisión de Evo. La bolsa de criptomonedas Intebix y el Banco de Eurasia podrían gestionar el stablecoin Evo.
Los inventores llaman a Evo el “stablecoin nacional” y quieren usarlo para conectar la blockchain y la banca convencional. El stablecoin ampliará las puertas de enlace cripto-fiat, cambiará activos digitales y facilitará transacciones con tarjetas cripto.
Evo funcionará en Solana, una plataforma de contratos inteligentes de baja latencia y alto rendimiento. Una experiencia de pago fluida y una amplia aceptación del stablecoin en Kazajistán dependen de la infraestructura de rápido crecimiento de Solana.
Solana impulsa el stablecoin y firmó un MoU con el Ministerio de Desarrollo Digital de Kazajistán para desarrollar una zona económica blockchain.
El #Kazakhstan Banco Nacional no emitirá el stablecoin directamente. En cambio, el regulador proporcionará a los emisores de stablecoin una base legal. El marco probará Evo y hará crecer la industria de la moneda virtual.
El Gobernador del Banco Nacional de Kazajistán, Timur Suleimenov, destacó la relevancia del proyecto piloto, diciendo que las criptomonedas y la tecnología blockchain podrían aumentar la accesibilidad financiera.
Crecimiento en stablecoins domina
A pesar del auge de Bitcoin (BTC) y Ethereum (ETH), los stablecoins también están ganando popularidad.
Por ejemplo, los bancos surcoreanos supuestamente están en negociaciones con Circle y Tether para crear un mercado para stablecoins respaldados por won. Standard Chartered también podría solicitar una licencia de stablecoin en Hong Kong.
#AltcoinStrategicReserves #PerpDEXRace #solana $SOL

KZTE, also known as Evo, is a newly launched stablecoin from Kazakhstan, pegged 1:1 to the country’s national currency, the tenge.
It is being developed under Kazakhstan’s Digital Assets Regulatory Sandbox framework, allowing for testing under regulatory oversight.
Key partners in the project include:
Intebix (a local crypto exchange)
Eurasian Bank
Mastercard
The National Bank of Kazakhstan (as regulator)
The Solana blockchain (on which KZTE is issued)
Why Launch KZTE?
1. Bridging Traditional Finance & Digital Assets
A stablecoin pegged to the national fiat currency can help bridge the gap between conventional banking and digital/crypto systems. It enables easier crypto ↔ fiat conversions and can usher more people into digital finance.
2. Faster and Cheaper Transactions
Using the Solana blockchain gives KZTE advantages like low fees, high throughput, and fast confirmations — useful for payments, transfers, and retail use cases.
3. Financial Inclusion & Modernization
Kazakhstan is aiming to modernize its finance sector, improve access to digital financial services, and promote innovation in payments and banking. KZTE is part of that push.
4. Control & Regulation
Because the project runs via a regulatory sandbox, Kazakh authorities can monitor, adjust, and set rules early on. This reduces risk and helps build trust.
How KZTE Works (Key Features)
Feature Description
Peg 1:1 to the Kazakhstani tenge (KZT)
Blockchain Issued on the Solana network
Issuers Intebix & Eurasian Bank (under regulatory oversight)
Regulation Operates in the National Bank’s digital‐asset sandbox
Integration Mastercard helps connect KZTE with global payment & stablecoin networks
Use Cases Day-to-day payments, crypto ↔ fiat bridges, cross-border transfers, card spending via stablecoin balances
Challenges & Risks
Adoption: Convincing citizens, merchants, and financial institutions to use a new stablecoin.
Liquidity & Reserves: Ensuring full backing and transparency in reserve assets is crucial.
Regulatory & Legal: Navigating regulatory compliance, money laundering concerns, and cross-border legalities.
Competition & Market: Other stablecoins, CBDCs, or traditional systems may compete.
Technical Risks: Blockchain exploits, smart contract vulnerabilities, or scaling issues.
Potential Impact & Outlook
If KZTE succeeds, it could become a model for how nation-backed stablecoins work in emerging markets. It may:
Accelerate digital payments and reduce reliance on cash in Kazakhstan.
Help with cross-border settlements, particularly in Central Asia.
Encourage other countries to explore national stablecoins in tandem with CBDCs.
Strengthen Kazakhstan’s position in the crypto + fintech landscape.
Given it is in a pilot phase, its long-term success will depend on trust, regulatory clarity, adoption rates, and the strength of its technical and financial Infrastructure
#Kazakhstan