Kazakhstan has taken a major step toward regulating the crypto sector after President Kassym-Jomart Tokayev signed new laws on banking, financial markets, and digital assets, according to PANews.
Under this legislation, digital financial assets (DFAs) are officially recognized as a new asset class and are permitted to circulate within the country to support the development of fintech and the crypto industry. The law divides DFAs into three main categories: stablecoins, tokens backed by physical assets, and electronic financial instruments.
The framework also addresses unsecured digital assets such as #BTC and allows crypto exchanges to operate legally if they obtain a license from the central bank. As part of the oversight, the central bank will determine which cryptocurrencies are approved for circulation and will set limits on certain trading activities to safeguard investors.
In addition, authorities will closely monitor market participants and transactions to prevent money laundering and ensure compliance with financial regulations.
