{"id":129220,"date":"2025-05-14T11:18:21","date_gmt":"2025-05-14T11:18:21","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129220"},"modified":"2025-05-14T11:18:21","modified_gmt":"2025-05-14T11:18:21","slug":"kazakhstan-to-become-central-asias-crypto-hub-with-reforms-minister","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129220","title":{"rendered":"Kazakhstan to become \u2018Central Asia\u2019s crypto hub\u2019 with reforms: Minister"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsKazakhstan has the potential to become a leading crypto hub in Central Asia if regulatory restrictions are eased, according to Kanysh Tuleushin, the country\u2019s first vice minister of digital development, innovation and aerospace industry.<br \/>\nIn a recent op-ed for the Kazakhstanskaya Pravda newspaper, Tuleushin said digital mining and smart policy shifts could position Kazakhstan as a regional leader in blockchain innovation.<br \/>\n\u201cIf all restrictions were lifted and digital asset trading was allowed across Kazakhstan, the impact could be significant,\u201d he wrote. \u00a0<br \/>\n\u201cKazakhstan might become Central Asia\u2019s crypto hub,\u201d Tuleushin added, suggesting that broader legalization and taxation could add hundreds of billions of the country\u2019s tenge currency to the national budget.<br \/>\nHe called for nationwide crypto rules, transparent exchanges and legal crypto ATMs.<br \/>\nBinance\u2019s CZ signed an MOU with Kazakhstan in 2023. Source: CZRelated: Kazakhstan mulls Binance, Bybit for digital asset trading\u00a0<br \/>\nCrypto miners could modernize Kazakhstan<br \/>\nTuleushin said crypto mining firms could play a key role in modernizing the nation\u2019s energy infrastructure. He noted that, similar to the United States, miners in Kazakhstan could help balance the power grid by consuming surplus energy.<br \/>\nThrough the 70\/30 energy initiative, foreign investors fund thermal power upgrades, with 70% of the generated capacity going to the national grid and 30% allocated to miners.<br \/>\nHe also proposed utilizing associated petroleum gas from oil fields to power data centers, reducing emissions while generating revenue for oil producers.<br \/>\nKazakhstan\u2019s crypto mining sector has already contributed $34.6 million in taxes over the past three years. As of 2023, the government registered 415,000 mining machines, issued 84 licenses, and accredited five mining pools, Tuleushin said.<br \/>\nCrypto trading on the Astana International Financial Centre (AIFC) exchange surged from $324 million in 2023 to $1.4 billion in 2024. From 2025, miners will be required to sell 75% of their mined assets via AIFC platforms.<br \/>\nRelated: Kazakhstan CBDC pilot drastically reduces VAT refund wait<br \/>\nKazakhstan struggles with unregulated crypto trades<br \/>\nDespite progress, crypto transactions remain largely unregulated outside the AIFC, with an estimated $4.1 billion in turnover in 2023, 91.5% of which took place beyond government oversight.<br \/>\nAuthorities shut down 36 illegal exchanges in 2024, freezing $4.8 million in assets and disrupting two Ponzi schemes.<br \/>\nThe country is also building an in-house central bank digital currency (CBDC), the digital tenge. Development began in February 2023, with an\u00a0initial launch set for 2025.<br \/>\nAside from Kazakhstan, other Central Asian countries like Uzbekistan and Kyrgyzstan have also taken a friendly approach toward the digital asset industry.<br \/>\nOn May 7, Binance signed a memorandum of understanding\u00a0(MOU) with Kyrgyzstan\u2019s National Agency for Investments to introduce crypto payment infrastructure and blockchain education in the country.<br \/>\nMagazine: Metric signals $250K Bitcoin is \u2018best case,\u2019 SOL, HYPE tipped for gains: Trade Secrets<a href=\"https:\/\/cointelegraph.com\/news\/kazakhstan-eyes-central-asia-crypto-hub-status-with-reforms?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsKazakhstan has the potential to become a leading crypto hub in Central Asia if regulatory restrictions are eased, according to Kanysh Tuleushin, the country\u2019s first vice minister of&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129220"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129220"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129220\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129220"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}