Kazakhstan President Signs Laws Regulating Digital Assets

Kazakhstan's President Kassym-Jomart Tokayev has enacted legislation to regulate digital assets, including cryptocurrencies like Bitcoin. The new laws classify digital assets into three types of "digital financial assets" (DFAs), with the Agency for Regulation and Development of the Financial Market (ARDFM) setting issuance and circulation requirements for DFAs, excluding stablecoins. The National Bank of Kazakhstan (NBK) will be the primary regulator, responsible for licensing exchanges, approving cryptocurrencies for circulation, and setting trading limits for "unsecured digital assets" like BTC and ETH. DFAs will be subject to requirements similar to traditional financial instruments, focusing on risk management and investor protection. This move supports Kazakhstan's goal to become a regional digital asset hub.

(Source：Cointelegraph)