The President of Kazakhstan has signed a new bill to comprehensively relax cryptocurrency regulations

According to Cryptopolitan, Kazakhstan's President Tokayev has signed the "Law on Banks and Banking Activities" and the "Amendments to the Regulation and Development of Financial Markets," aimed at relaxing cryptocurrency trading rules and promoting fintech innovation. The new legislation defines digital financial assets (DFAs) as a new asset class, divided into three categories: stablecoins, tokenized physical assets, and electronic financial instruments.

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