BAKU, Azerbaijan, September 15. Turnover in Kazakhstan's regulated cryptocurrency market increased from $320 million in 2023 to $10.58 billion in 2025, Vice Minister of Artificial Intelligence and Digital Development Gizzat Baitursynov said at a government meeting.
This was announced by the country's government press service.
According to him, Kazakhstan currently has 76 licensed crypto miners and five accredited mining pools, with around 470,000 pieces of mining equipment registered. The regulatory system allows authorities to monitor the industry's production indicators, ensure transparency, and secure tax revenues for the state budget, Baitursynov said.
Baitursynov noted that mining pools provide the government with regular reports on the digital assets being mined, allowing authorities to effectively monitor the industry's performance. At the same time, a regulated framework for cryptocurrency exchanges has been established through the Astana International Financial Centre (AIFC).
Tax revenues from the industry have also shown positive dynamics. The state budget received 9 billion tenge ($20.1 million) in 2023, 9.9 billion tenge ($22.1 million) in 2024, and 22.4 billion tenge ($50 million) in 2025.
"Similar dynamics are observed in the regulated cryptocurrency exchange segment. In 2022, a pilot project to regulate cryptocurrency exchange activities was launched jointly with the AIFC and financial regulators. Subsequently, a full-fledged environment for their licensing and operation within the AIFC was established on this basis. As a result, turnover in the regulated cryptocurrency market increased from $320 million in 2023 to $10.58 billion in 2025. During the same period, the number of users increased from 53,000 to 215,000," Baitursynov said.
The government noted that the growth in these indicators shows that, with clear and transparent rules in place, the regulated market can scale rapidly. The next stage will involve further improving legislation on digital assets and developing regulated digital financial infrastructure.
