Kazakhstan to develop voluntary digital asset disclosure mechanism by end-2026
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Kazakhstan will develop a voluntary digital asset disclosure mechanism by the end of 2026, Vice Minister of AI and Digital Development Gizzat Baitursynov announced at a government meeting. Individuals and companies will be able to transfer previously mined or acquired crypto assets to licensed Kazakh platforms. The plan also includes a personal income tax exemption for digital asset transactions through Kazakh providers from January 1, 2026 to December 31, 2028.
Key Facts
- The voluntary disclosure mechanism is planned to be developed by the end of 2026.
- Individuals will be exempt from individual income tax on digital asset transactions through Kazakh providers from January 1, 2026 to December 31, 2028.
- Miners will be able to sign agreements with subsoil users to install autonomous power plants at oil fields using associated petroleum gas.
- President Kassym-Jomart Tokayev signed a decree on stimulating and developing the digital asset industry on July 7, 2026.
Voluntary Disclosure Mechanism
Vice Minister Gizzat Baitursynov announced the plan at a government meeting, stating that individuals and legal entities will be able to transfer previously mined or acquired assets to licensed Kazakh platforms. The entire process will comply with financial monitoring requirements. Baitursynov said the authorities aim to attract digital assets to Kazakhstan's regulated market, adding, "Our principle is simple: not to prohibit, but to regulate." Detailed conditions for voluntary disclosure have not yet been announced, including required documents, proof of asset origin, treatment of funds on foreign platforms, and the timeline for using the mechanism.
Tax Incentives
Baitursynov said individuals will be exempt from individual income tax on digital asset transactions conducted through Kazakh providers. The exemption is expected to apply from January 1, 2026 to December 31, 2028. He called it "a direct incentive for citizens to move from foreign platforms to Kazakhstan's regulated market."
Mining at Oil Fields
The third direction involves using associated petroleum gas to generate electricity directly at oil fields for digital mining. Baitursynov explained that part of this gas is currently flared or reinjected into the formation, and the authorities propose using it for electricity generation. A miner will be able to sign an agreement with a subsoil user and install an autonomous power plant at the field, which should not create additional load on the unified energy system. The mechanism is expected to reduce gas flaring, attract investment, create jobs, and increase tax revenues.