Kazakhstan to Legalize Shadow Crypto Assets via Voluntary Disclosure

Kazakhstan is preparing a mechanism to bring undisclosed digital assets into the legal fold. Vice-Minister of Artificial Intelligence and Digital Development Gizzat Baitursynov stated that a voluntary declaration process will be finalized by the end of the year. Asset Migration and Compliance The initiative allows individuals and legal entities to transfer previously acquired or mined assets to licensed Kazakhstani platforms. The government emphasizes that these transfers must comply with national financial monitoring requirements, signaling a move toward stricter oversight of crypto-wealth originating from the grey market. Mining: Tax Incentives and Energy Access To stabilize the mining sector, the ministry is pursuing two structural changes: introducing tax incentives to bring mining revenues into official statistics and granting miners access to the wholesale electricity market on equal terms. This suggests an attempt to shift the industry from an opportunistic activity to a regulated economic sector.