Photo: akorda.kz
Kazakhstan will launch a pioneering pilot zone called CryptoCity, where cryptocurrencies can be used to purchase goods, services, and more. President Kassym-Jomart Tokayev announced the initiative at the Astana International Forum (AIF), according to Kursiv.kz.
“We plan to create an innovative pilot zone, CryptoCity, where cryptocurrencies will be used for purchasing goods, services, and other purposes,” Tokayev stated. He did not provide a timeline or further project details.
Currently, cryptocurrency operations in Kazakhstan are legally permitted only through exchanges operating within the Astana International Financial Centre (AIFC). Several crypto services are registered there, including local branches of Binance and Bybit.
Earlier this year, Tokayev cited expert data suggesting that only 5 percent of Kazakh crypto investors use the AIFC platform, while the majority operate in the so-called “gray zone.”
“There is an urgent need to build infrastructure for broader legal circulation of digital assets. Financial regulators must develop the necessary legal framework,” the president said at the time.
At the end of May, the National Bank of Kazakhstan announced it was drafting legislative amendments to legalize cryptocurrency exchanges across the country. The range of assets available for purchase will be determined by the regulator.
