Kazakhstan cryptocurrency market grows 30-fold to over $10 billion

Kazakhstan’s regulated cryptocurrency market has experienced significant growth, increasing more than 30-fold over the last three years following the implementation of new regulations. According to Yerkegali Yedenbayev, managing director of the Astana Financial Services Authority (AFSA), transaction volumes rose from $320 million in 2023 to $10.5 billion by the end of 2025. In the first half of 2026 alone, transaction volume reached $5.5 billion.

The expansion is accompanied by a growing user base, with the number of clients in the sector increasing from 53,000 in 2023 to 270,000 currently. To support this growth and encourage decentralized capital to enter the formal economy, President Kassym-Jomart Tokayev signed a decree granting tax exemptions to private cryptocurrency owners.

Currently, three crypto platforms have been licensed under the updated legislation, while five additional platforms are awaiting authorization. The AFSA oversees the Astana International Financial Centre (AIFC), which serves as the nation’s fintech hub.