Digital currency is a logical extension of Kazakhstan’s active digitization of its economy. As a result, in 2021, the National Bank of Kazakhstan launched a pilot project called “Digital Tenge,” developed with the participation of market representatives, experts, and international partners.
Despite the widespread digitalization that positions Kazakhstan as a leader in this area, not only among CIS countries but also globally, the official status of cryptocurrency in the country’s economy remains in a "gray" zone. On the one hand, regulators strive to stay abreast of modern economic trends; on the other hand, authorities act cautiously, wary of the decentralized nature of blockchain and the consequent risks of the shadow economy. Additionally, tax authorities have yet to develop transparent and comprehensible mechanisms for taxing all crypto market participants.