# Kazakhstan cryptocurrency market expansion

> Live situation record from CLSTR: https://clstr.news/situations/kazakhstan-cryptocurrency-market-expansion
> Updated: 2026-09-15T11:29:29.000Z. Sources: 6. Developments: 2.

Kazakhstan’s regulated cryptocurrency market has seen substantial expansion following the implementation of new regulations. According to Yerkegali Yedenbayev, managing director of the Astana Financial Services Authority (AFSA), transaction volumes grew from $320 million in 2023 to $10.5 billion by the end of 2025, with $5.5 billion in volume recorded in the first half of 2026 alone.

This growth is accompanied by an increase in the user base, which rose from 53,000 clients in 2023 to 270,000. To 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 are licensed under updated legislation, while five others await authorization under the oversight of the AFSA within the Astana International Financial Centre (AIFC).

## Timeline

### 2026-09-15: Kazakhstan cryptocurrency market grows 30-fold to over $10 billion

Kazakhstan’s regulated cryptocurrency market has grown 30-fold to over $10 billion since 2023, driven by new legislation and tax exemptions for private investors.

3 sources. https://clstr.news/cluster/kazakhstan-cryptocurrency-market-grows-30-fold-to-over-10-billion

### 2026-08-21: Kazakhstan e-commerce market reaches $8 billion in 2025

Kazakhstan's e-commerce market grew by 50% over three years, reaching approximately $8 billion in 2025, driven largely by marketplaces like Kaspi.kz and Wildberries.

3 sources. https://clstr.news/cluster/kazakhstan-e-commerce-market-reaches-8-billion-in-2025

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Cite as: Kazakhstan cryptocurrency market expansion. CLSTR, https://clstr.news/situations/kazakhstan-cryptocurrency-market-expansion