Kazakhstan to mandate digital tenge for large state procurement
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan announced that all state procurement contracts exceeding 100 million tenge will be paid in digital tenge with full traceability. The measure aims to curb corruption and ensure transparent use of budget funds.
The New Rule
Starting from a date to be set, all state procurement contracts above 100 million tenge must be settled in digital tenge, the central bank's CBDC. The National Bank of Kazakhstan and the Ministry of Finance jointly developed the mechanism, which records every transaction on a distributed ledger. The system is designed to prevent fund diversion and unauthorized spending.
Implementation Details
The digital tenge platform will integrate with the state procurement portal, enabling real-time monitoring by the Treasury Committee. Suppliers will receive payments directly to their digital wallets, bypassing intermediary accounts. The National Bank reported that pilot tests involving 50 suppliers processed over 2 billion tenge in transactions without errors.
Expected Impact
Officials estimate the measure will cover roughly 60% of all state procurement spending by value. The Ministry of Finance expects to reduce procurement-related violations by 30% within the first year. However, small suppliers may face adaptation costs for digital infrastructure.
Crypto Mining Revenue Sale Mandate
President Kassym-Jomart Tokayev signed a law on February 6 requiring crypto miners to sell 75% of their revenue for tax purposes. The law also reinstates measures against unlawful mining and crypto asset issuance.
What's Next
The government is expected to publish the implementation timeline within two months. It remains unclear whether the rule will apply retroactively to existing contracts or only to new tenders.
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Kazakhstan to mandate digital tenge for large state procurement
