Share this article
Kazakhstan Legislature Pushes New Crypto Rules Forward: Report
The lower house of the country's parliament has passed five bills relating to digital assets as the government seeks to tighten its grip on crypto activity, particularly crypto mining.
Updated Oct 17, 2022, 4:11 p.m. Published Oct 12, 2022, 1:00 p.m.
The Majilis of Kazakhstan (the lower house of the country's legislature) has approved five new crypto bills, Russian news agency TASS reported Wednesday.
The draft of at least some of this legislation was introduced only in late September, local reports show, indicating how quickly the new rules are moving forward. The bills address the issuance and circulation of "secured and unsecured digital assets," according to Ekaterina Smyshlyaeva, a member of the lower house's Committee on Economic Reform and Regional Development.
STORY CONTINUES BELOW
Smyshlyaeva also said the bills were developed "in pursuance" of instructions from President Kassym-Jomart Tokayev on curbing problems related to crypto mining.
After China banned energy-intensive crypto mining in that country, miners fled to other jurisdictions with cheap electricity, with energy-rich Kazakhstan becoming a main attraction. The country soon began to struggle with energy shortages, and authorities began cracking down on the mining industry. Since May, the government has required crypto miners to register their operations with local authorities. In July, Tokayev signed into law increased levies on crypto miners.
Although the bills are still at the first stages of the legislative process, sources familiar with the proceedings have told CoinDesk that the legislation is likely to pass into law.
Read more: Crypto Exchange Binance Receives License to Operate in Kazakhstan
Eliza Gritski contributed reporting.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto bank Custodia files petition for a rehearing by all appellate judges
The Wyoming-based cryptocurrency bank argued that the three-judge panel undermined state banking authorities, raising “serious constitutional questions”
What to know:
- Custodia Bank has filed a petition for a rehearing en banc with the Tenth Circuit Court of Appeals in its legal battle against the Federal Reserve.
- The bank argues that the Fed's denial of a master account undermines state banking authority and raises constitutional concerns.
- The October ruling against Custodia is a significant setback in its efforts to gain access to the U.S. payments system.
Top Stories
