Kazakhstan’s monetary regulators have allowed license and supervision charges to be paid in USD-pegged stablecoins.
Kazakhstan’s Astana Financial Services Authority (AFSA), a delegated monetary authority for the Astana International Financial Centre (AIFC), has launched a undertaking enabling AIFC members to pay regulatory charges in USD-pegged stablecoins.
The regulator introduced on Thursday that the undertaking was formally launched on the native occasion Astana Finance Days 2025, signing a associated multilateral memorandum of understanding (MMoU) with the centralized crypto change (CEX) Bybit.
“This initiative represents a first-of-its-kind regulatory framework for funds in stablecoins within the area, signaling Kazakhstan’s ambition to place the AIFC as a hub for digital finance […],” AFSA CEO Evgeniya Bogdanova mentioned.
Replacing fiat-only funds
Currently, corporations pay regulatory charges primarily by way of conventional strategies comparable to financial institution transfers and wire funds in fiat currencies such because the US greenback and the Kazakhstani tenge, a spokesperson for Bybit informed Cointelegraph.
“These strategies are practical however typically contain delays, excessive transaction prices and restricted flexibility, particularly for corporations whose major treasury is held in digital belongings,” the consultant mentioned.
With stablecoins like Tether USDt (USDT) or Circle’s USDC (USDC), the events are supplied with a quick, cost-efficient, and clear fee possibility, the Bybit spokesperson famous.
Participation is topic to eligibility standards
According to the official assertion from the AFSA, the undertaking’s participation requires signing an MMoU, topic to assembly the authority’s eligibility standards.
Bybit grew to become the inaugural signatory of the MMoU, which was signed throughout Astana Finance Days 2025 by AFSA’s Bogdanova and Bybit CEO Mazurka Zeng.
The names of the suppliers taking part within the new undertaking will likely be revealed on the official AFSA web site after signing an MMoU, the regulator mentioned.
Cointelegraph approached the AFSA for remark relating to the undertaking particulars, together with eligibility standards, however had not acquired a response on the time of publication.
Related: ECB president calls to deal with dangers from non-EU stablecoins
The information got here amid crypto gaining momentum in Kazakhstan, with the US-regulated crypto custodian BitGo helping the launch of Central Asia’s first spot Bitcoin ETF by the native firm Fonte Capital in August.
Kazakhstan has emerged as a serious participant within the crypto trade, together with cryptocurrency mining. In June, native authorities additionally reported finding out the idea of a state-run crypto reserve, possible funded by digital belongings mined or seized by the federal government.
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