Kazakhstan’s president has signed a new Banks Law that brings digital financial assets into the regulatory perimeter and empowers the National Bank to define which cryptocurrencies can be offered to investors, according to a statement published on the government portal.
The law treats stablecoins as digital financial assets and assigns the National Bank rulemaking on issuance, circulation, and redemption. It creates licensing for digital-asset platform operators and crypto-exchange organizations for unbacked assets, with an approved-crypto list and operating limits to be set by the National Bank. It also extends financial monitoring obligations to crypto exchangers and related infrastructure.
Next, stakeholders will watch for the National Bank’s implementing rules, including licensing timelines, approved-asset criteria, and operational limits, plus how this roadmap aligns with broader initiatives referenced in the law, such as open banking infrastructure and the digital tenge.
Source: Agency for Regulation and Development of the Financial Market of Kazakhstan.
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