Kazakhstan is seriously considering the launch of dedicated crypto banks, signalling a major push to strengthen its national digital asset sector and attract more activity into regulated channels. This potential move aims to integrate cryptocurrency operations more formally into the financial system.
Prime Minister Olzhas Bektenov confirmed the exploration in a recent parliamentary response. These proposed institutions would operate under clear rules, offering services vital for the crypto economy, such as secure digital asset trading via potentially regulated best crypto exchange platforms, custody solutions similar to a best crypto wallet, and transaction processing.
While entities within the Astana International Financial Centre (AIFC) currently perform some of these roles, the government sees specialized crypto banks as the next step. Upcoming legal changes are planned to further encourage the use of digital assets and make regulated platforms more accessible.
This initiative follows President Kassym-Jomart Tokayev’s call earlier this year for rapid crypto infrastructure development. Concerns were raised that the vast majority of crypto users operate outside regulated frameworks, limiting oversight and potential benefits.
Officials believe establishing crypto banks could significantly improve transparency and compliance with global anti-money laundering (AML) standards.
Beyond regulation, the move is seen as a catalyst for innovation in blockchain technology and the wider IT industry. It aims to boost Kazakhstan’s appeal for international investment and showcase a progressive approach to decentralized finance (DeFi).
Developing this sector is also expected to drive demand for skilled professionals in compliance and blockchain analytics, while improving liquidity within the AIFC for both traditional and digital currencies.