Kazakhstan Explores Launch of Crypto Banks
Kazakhstan is exploring the creation of crypto banks to support a sustainable digital asset ecosystem, Prime Minister Olzhas Bektenov stated on April 25 in response to a formal inquiry from the Mazhilis, the lower house of Parliament.
Bektenov noted that crypto banks would offer core services such as digital asset exchange, custody, and transaction facilitation. These functions would be carried out by licensed entities operating within the Astana International Financial Centre (AIFC), including exchange platforms, custodians, brokers, and dealers.
“Crypto banks will increase the investment attractiveness of the jurisdiction, reflecting the maturity of Kazakhstan’s financial infrastructure in the context of decentralized finance. The emergence of such institutions will create demand for new specialists, particularly in compliance, blockchain analytics, and anti-money laundering, and will also ensure the growth of liquidity of fiat and digital assets within the AIFC,” Bektenov noted.
The government has prepared legislative amendments aimed at liberalizing digital asset circulation and expanding exchange platforms. The proposed crypto banks are expected to enhance transparency, strengthen anti-money laundering (AML) and counter-terrorism financing (CTF) compliance, and accelerate blockchain and IT development in Kazakhstan.
Photo credit: Kazakhstan Today
