Kazakhstan Lets Central Bank Approve Coins For Trading On Crypto Platforms

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Kazakhstan’s central bank will approve which cryptocurrencies can trade on licensed exchanges.
The law introduces digital financial asset categories, including stablecoins and asset-backed tokens.
Crypto exchanges must obtain licenses and meet reporting and compliance rules.
Trading limits and coin lists will be set by the National Bank of Kazakhstan.

Kazakhstan has tightened control over its crypto market after new laws gave the central bank power to approve which coins can trade. The move sets clear rules for exchanges and digital assets while limiting open access to unapproved tokens. Officials say the framework aims to bring order to the sector and protect users. The decision places Kazakhstan among countries using direct oversight to manage crypto activity and reduce market risks.

Central Bank Gains Authority Over Crypto Trading

President Kassym-Jomart Tokayev signed the new digital asset law this week. The law updates banking and financial market rules. It creates a legal base for crypto exchanges and digital asset issuance. The National Bank of Kazakhstan now acts as the main regulator for the sector.

Under the law, the central bank will license crypto exchanges. It will also approve which cryptocurrencies can trade on regulated platforms. The bank can set trading limits and operational rules. Officials said this step supports market order and user protection. A government statement said the law creates “clear standards for digital asset circulation and exchange activity.”

🚨KAZAKHSTAN TO BUILD $1B NATIONAL CRYPTO RESERVE
🇰🇿The central bank says fund will come from seized assets, ETFs, and shares of crypto firms.
Some reports even claim the country could trade gold reserves for crypto. pic.twitter.com/AulSs1mmzg
— Coin Bureau (@coinbureau) November 28, 2025

The law treats Bitcoin and Ether as unsecured digital assets. These assets can only trade on licensed platforms. Exchanges must meet strict compliance rules. They must also follow reporting and risk control standards. The bank will monitor activity and enforce restrictions when needed.

New Digital Financial Asset Categories Introduced

The law creates a new asset class called digital financial assets, or DFAs. These assets include stablecoins and tokens backed by property or financial tools. It also covers electronic financial instruments issued on digital platforms.

The Agency for Regulation and Development of the Financial Market will set DFA rules. It will define issuance, circulation, and redemption standards. Stablecoins fall under special oversight by the central bank. The agency will manage other DFA types. The aim is to align digital assets with traditional market rules.

DFA issuers must operate on licensed platforms. These platforms need approval from the central bank. Issuers must follow disclosure rules and risk management standards. They must also protect investors. The law applies similar duties to those in securities markets.

Licensed Exchanges Face Stricter Compliance Rules

Crypto exchange operators must apply for central bank licenses. They must meet capital and governance requirements. They must also keep transaction records and user data. Authorities said these steps support transparency and market control.

The central bank will publish a list of approved cryptocurrencies. Only listed coins can trade on regulated exchanges. The list can change based on market conditions and policy reviews. Officials can also set limits on trading volumes and user access. These measures aim to reduce fraud and misuse.

Exchanges must also follow anti-money laundering standards. They must verify user identities and report suspicious activity. The law links crypto rules with existing financial crime frameworks. This approach brings digital assets closer to traditional banking standards.

Market Adjustment Expected After Law Takes Effect

Kazakhstan became a major crypto mining hub after China’s 2021 mining ban. The country later restricted mining due to power shortages. This new law shifts focus toward regulated trading and asset issuance. Officials said the framework supports controlled growth rather than open access.

Market participants may need time to adjust to the new rules. Some coins could lose access if not approved by the central bank. Exchanges must update systems to meet compliance standards. Users may also face new limits and verification steps.

The government said the law strengthens financial stability. It also aims to support lawful digital finance growth. Kazakhstan now joins other states that require direct approval for crypto trading activity. The framework will guide future policy updates and regulatory actions.