Analysis of Kazakhstan's Digital Asset Taxation and Regulatory Policies

1. Country Overview

Kazakhstan is a country that spans the Eurasian continent, with most of its territory located in Asia and a small part in Europe. The country declared independence on December 16, 1991, and is the largest landlocked country in the world. It consists of 14 regions and 3 cities of republican significance, with Kazakh and Russian as the official languages and the legal currency being the tenge.

Kazakhstan's economic development in the Central Asia region is relatively fast, and the political situation is relatively stable. It is noteworthy that as early as 2021, the country's Bitcoin mining hash rate had jumped to third place globally. According to official data, by March 2025, there were already 75 officially registered mining companies in Kazakhstan.

2. Cryptocurrency Tax Policy

2.1 General Tax System Overview

Kazakhstan's tax regulations are mainly composed of the "Tax Code" and related normative legal documents. The main types of taxes include corporate income tax, personal income tax, value-added tax, etc.

2.2 digital asset related tax policies

Starting from January 1, 2024, the tax rate for electricity used in digital asset mining will be unified at 2 tenge/kWh. When using self-generated electricity or renewable energy, it will be calculated at 1 tenge/kWh.

Companies engaged in the digital asset industry are required to pay a corporate income tax of 20%. The actual revenue from the sale of digital assets is not included in the total annual revenue, and the taxable income is recognized based on the quantity of digital assets and the product of their officially published value. Expenses related to digital asset mining are not deductible.

Individuals selling digital assets must declare property appreciation income for personal income tax. The tax rate for resident individuals is 10%, while it is generally 20% for non-resident individuals.

The digital assets allocated during the digital asset mining activities are not subject to value-added tax, and the sale of digital assets is also exempt from value-added tax.

3. Digital Asset Regulatory Policies

3.1 regulatory framework

The Astana International Financial Center ( AIFC ) plays an important role in the regulation of digital assets. The Astana Financial Services Authority ( AFSA ), as an independent regulatory body, is responsible for overseeing financial services and capital market activities within the AIFC.

The "Digital Asset Law" passed in 2023 has laid the legal foundation for the issuance, circulation, and mining activities of digital assets.

3.2 Latest Regulatory Developments

In early 2025, Kazakhstan accelerated the construction of its digital asset regulatory system. The national bank released an annual report on the development of the national digital financial infrastructure, planning to test the basic scheme for cross-border payments of digital assets in 2025.

The government is working on establishing a new legal framework to promote the broader legitimate circulation of digital assets. The national bank plans to advocate for legislative amendments to regulate the digital asset circulation environment nationwide.

In May 2025, the national bank announced a series of legislative amendments, including the introduction of digital financial assets and the regulation of unsecured digital asset transactions. At the same time, a regulatory sandbox for digital assets is being established to allow market participants to test innovative services and technologies.

In addition, Kazakhstan announced the establishment of the "CryptoCity" pilot zone and launched the "Crypto Card" project to explore more possibilities for crypto payments.

4. Summary

Kazakhstan has demonstrated an open and supportive attitude in the digital asset field. By improving the regulatory system and building modern infrastructure, the country is striving to create a Central Asian digital financial hub, enhancing its position in the global digital economy. With the implementation of innovative legal frameworks and infrastructure, Kazakhstan is expected to become a leader in the Central Asian digital asset field, promoting the diversification of its economy and enhancing international competitiveness.