Kazakh President Tokayev has signed the "Banking and Banking Activities Law" and the "Amendment to Financial Market Regulation and Development," aiming to relax cryptocurrency trading rules and promote fintech innovation. The new bill defines digital financial assets (DFAs) as a new asset category, divided into three types: stablecoins, asset-backed tokens, and electronic financial instruments.

According to the new regulations, the National Bank of Kazakhstan will be responsible for issuing licenses for crypto exchanges, creating a list of permitted cryptocurrencies, and regulating the market to prevent money laundering. Commercial banks are allowed to invest in fintech companies and develop innovative financial products, including mobile payments and a digital tenge system. (Cryptopolitan)