A sovereign crypto fund surprised markets by making its first investment in BNB, rather than Bitcoin. This is a big, bold move in Kazakhstan’s strategy.
Kazakhstan News
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Despite Kazakhstan’s public pro-crypto stance, the volume of crypto platforms engaged in illicit financial schemes and closed down increased in 2025.
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Kazakhstan is advancing a dual model by piloting its digital tenge CBDC alongside the Evo stablecoin as part of its push to become a crypto hub.
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Kazakhstan launched the Alem Crypto Fund, a state-backed vehicle for long-term digital asset reserves, debuting with a BNB purchase in partnership with Binance Kazakhstan.
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The new Solana-based Evo stablecoin pegged to Kazakhstan’s national currency, the tenge, aims to bridge the crypto market with traditional finance.
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The president announced his “CryptoCity” plans would be developed in Alatau, while the government would move forward to create a strategic crypto reserve with “promising assets.”
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Crypto exchange Bybit has become the first crypto exchange to debut stablecoin payments for regulatory fees in Kazakhstan’s AIFC.
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The growing role of platforms like BitGo in spot Bitcoin products worldwide is a double-edged sword, according to market observers.
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Kazakhstan’s central bank is drawing on lessons from Norway, the US and Middle East in developing its crypto strategy.
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Kazakhstan’s central bank is set to establish a state-run crypto reserve, likely funded by seized digital assets and government-linked mining.
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President Kassym-Jomart Tokayev announced plans to build “CryptoCity,” aiming to establish a regulatory sandbox for digital assets.
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Kazakhstan’s digital minister says lifting crypto restrictions and expanding regulations could turn the country into Central Asia’s top blockchain hub.
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Kazakhstan shut down 36 illegal crypto exchanges in 2024, seizing $112 million in assets and advancing Anti-Money Laundering efforts alongside its upcoming digital tenge launch.
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The former crypto executive was previously arrested in Poland in 2021 over related matters but was released after 40 days.
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The National Bank's latest project again shows the advantages of programmable central bank digital currency.
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