Kazakhstan Signs Decree to Attract Crypto Businesses with Stablecoin Cross-Border Settlements

Kazakhstan's President Kassym-Jomart Tokayev has signed a decree aimed at bringing crypto trade into the country, making it an attractive destination for miners and traders. The decree sets out stablecoin cross-border settlements and personal income-tax exemption for regulated crypto trading.

The measures are part of the government's effort to create a clear and predictable environment for all stakeholders, ranging from miners to financial institutions. This includes allowing associated petroleum gas and natural gas from fields to be used for autonomous power generation when not needed for state purposes.

The decree also calls for the development of tokenized financial instruments and national trading infrastructure, alongside the potential issuance of tokenized government bonds. Kazakhstan hopes that this will pull outside capital into the country and give crypto firms clearer rules for operation.