Kazakhstan is poised to establish itself as a leading crypto hub in Central Asia, according to Kanysh Tuleushin, the first vice minister of digital development. He emphasized that lifting regulatory restrictions and implementing comprehensive digital asset policies could significantly boost the country's blockchain innovation. Recommendations include allowing digital asset trading, establishing nationwide crypto regulations, and transparent exchanges. Tuleushin noted the potential financial impact, estimating that broader legalization and taxation could add hundreds of billions of tenge to Kazakhstan's budget. Additionally, he highlighted that crypto mining firms could modernize energy infrastructure by leveraging surplus energy resources. Despite the recent growth in crypto trading, which surged from $324 million in 2023 to $1.4 billion in 2024, many transactions remain unregulated outside designated centers. Kazakhstan is also developing a central bank digital currency (CBDC), the digital tenge, to further enhance its digital finance landscape.

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