Kazakhstan to become the “Central Asia Current Center” with reforms: Minister – Tradingview News

Kazakstan has the ability to become a major center for encryption in Central Asia if organizational restrictions are reduced, according to Kanesh Toulion, the first deputy minister of digital development, innovation and space in the country.

In the rear editorial of the Kazakhstakaya Pravda newspaper, Toulionine said that digital mining and smart policy can put Kazakhstan as a regional leader in Blockchain innovation.

“If all restrictions are lifted and digital assets are allowed across Kazakhstan, the effect may be large,” he wrote.

“Kazakhstan may become the Central Asian Central Center,” Taleushin added, indicating that the rationing and wider taxes can add hundreds of billions of Tenge in the country to the national budget.

He called for encryption rules at the country level, transparent exchanges and legal cashier.

Code miners can update Kazakhstan

Tuleushin said that encryption mining companies can play a major role in updating the country’s energy infrastructure. He pointed out that, similar to the United States, mine workers in Kazakhstan can help balance the energy network by consuming surplus energy.

Through the 70/30 Energy Initiative, foreign investors finance thermal energy promotions, with 70 % of the capacity resulting from the national network and 30 % for workers.

He also suggested that the oil -related petroleum gas to the energy data centers, reduces emissions with the generation of revenues for oil producers.

The encryption mining sector in Kazakhstan has already contributed 34.6 million dollars over the past three years. As of 2023, the government registered 415,000 mining machines, issued 84 licenses, dependent on five mining complexes, Tuleushin said.

AIFC (AIFC) increased from $ 324 million in 2023 to $ 1.4 billion in 2024. From 2025, miners will be asked to sell 75 % of their bombs via AIFC platforms.

Kazakhstan is struggling with unorganized encryption deals

Despite progress, encryption transactions remain largely not subject to AIFC, with an estimated $ 4.1 billion in 2023, and 91.5 % of them have been supervised by government control.

The authorities closed 36 illegal stocks in 2024, freezing $ 4.8 million of assets and disrupting Bonzi planners.

The country also builds a digital currency for the Central Bank (CBDC), which is the digital Tenge. Development began in February 2023, with the first launch of the year 2025.

Regardless of Kazakhstan, other Central Asian countries such as Uzbekistan and Kyrgyzstan have followed a friendly approach to the digital asset industry.

On May 7, Binance signed a Memorandum of Understanding (MO) with the National Investment Agency to provide infrastructure for encryption and Blockchain education in the country.