Crypto licence in Kazakhstan: AFSA and the National Bank
- INSIDE THE AIFC
- $98,000
- OUTSIDE IT
- 129,750 ₸
- IN THE REGISTER
- 36
In short. Kazakhstan licenses crypto twice over, and the two prices are nowhere near each other. Inside the Astana financial centre, AFSA charges USD 98,000 to authorise a trading facility and USD 30,000 a year to supervise it. Outside the centre the National Bank has licensed exchange operators since 1 May 2026 for a fee of 129,750 tenge, a few hundred dollars, and it answers within 20 working days. The two regimes also differ in permitted activities and in who may become a client.
- AIFC AUTHORISATION
- $98,000one-off, digital asset trading facility
- AIFC SUPERVISION
- $30,000a year, plus a quarterly variable fee
- AIFC CAPITAL
- $200,000or 12 months of working capital, whichever is higher
- NATIONAL LICENCE FEE
- 129,750 ₸30 monthly calculation indices
- NATIONAL CAPITAL
- 50m ₸charter capital of an exchange operator
- NATIONAL BANK DECISION
- 20working days from a complete file
- IN THE AFSA REGISTER
- 36digital asset service providers
- PAYING IN SHOPS
- Prohibitedthe tenge stays the only money
Which regulator you deal with
The Astana International Financial Centre is a jurisdiction inside Kazakhstan with its own law and its own regulator. AFSA has licensed digital asset firms there since 2021 and reworked its framework on 1 January 2026. Thirty-six digital asset service providers appear in its public register.
Everywhere else in the country, nobody licensed anything until this year. The law on digital assets took effect on 1 May 2026 and cut the market three ways: exchange operators need a licence from the National Bank, while trading platforms and digital financial asset platforms go through registration instead. Digital financial assets other than stablecoins went to the financial markets agency.
So "licensed in Kazakhstan" names two different permissions from two different regulators, and the register a firm appears in tells you which one it holds.
What the Astana centre charges
Authorising a digital asset trading facility costs USD 98,000, paid once. AFSA does not treat the application as filed until the money arrives. Supervision then costs USD 30,000 a year as a fixed fee, and AFSA adds a variable part each quarter.
Capital has a floor of USD 200,000, or enough working capital in fiat to run the business for twelve months, whichever is larger. Each further digital asset activity adds USD 2,800 to the application. Registration itself is USD 500 through the portal and USD 1,500 on paper.
AFSA publishes no decision deadline, so plan on months.
What the National Bank charges
The fee is 30 monthly calculation indices. The index is 4,325 tenge in 2026, so the licence costs 129,750 tenge.
The charter capital costs far more than the fee: 50 million tenge, paid up before you file. The operator has to be a joint-stock company or an LLP, run a risk management system and a compliance function, identify its customers and meet the cybersecurity requirements. The National Bank checks the record and reputation of founders and management and wants the ownership structure visible all the way up.
The deadline is in the rules: 20 working days from the day the file is complete. Pax Finance became the first licensed exchange operator in July 2026 and may buy, sell and store crypto assets, open branches and install crypto ATMs.
What neither licence buys
Paying a shop in unbacked crypto stays prohibited across Kazakhstan, inside the centre and out. The tenge remains the only legal means of payment, whichever licence a firm holds.
An individual who sells at a profit pays 10% on the gain, not on the proceeds, under the tax code that took effect on 1 January 2026.
What it costs
| What | To apply | Each year |
|---|---|---|
| AIFC · digital asset trading facility | USD 98,000 | USD 30,000 plus a variable fee |
| AIFC · each further digital asset activity | USD 2,800 | — |
| AIFC · registration through the portal | USD 500 | — |
| AIFC · registration on paper | USD 1,500 | — |
| National Bank · exchange operator licence | 129,750 ₸ | — |
How an application runs
- 1Decide which side of the line you want. Inside the Astana centre you answer to AFSA under its own rulebook. Outside it you answer to the National Bank under Kazakh law.
- 2Incorporate. An exchange operator outside the centre must be a joint-stock company or an LLP with 50 million tenge of charter capital paid up.
- 3Pay the fee when you file. AFSA treats an application as submitted only once the authorisation fee has cleared.
- 4Hand in the documents: the application form, proof the capital is paid, the charter, the operating rules, and the arrangement with banks and exchanges.
- 5Pass the checks on founders and management. The National Bank looks at criminal records, business reputation and who owns the company.
- 6Wait for the answer. The National Bank has 20 working days from a complete file. AFSA publishes no deadline of its own.
- 7Appear in the register. AFSA lists digital asset service providers; the National Bank lists licensed exchange operators.
Timeline
The Astana financial centre opens with its own regulator and its own rulebook.
AFSA starts licensing digital asset firms inside the centre.
AFSA's reworked digital asset framework takes effect.
A 10% tax on the gain from a crypto sale starts applying to individuals.
The law on digital assets takes effect and the National Bank starts licensing outside the centre.
Pax Finance becomes the first exchange operator licensed by the National Bank.
Questions
Which regulator do I need?
AFSA if you incorporate inside the Astana financial centre, the National Bank if you work anywhere else in Kazakhstan.
What does the cheaper route cost?
A licence fee of 129,750 tenge, plus 50 million tenge of charter capital paid up before you file.
How long does the National Bank take?
Twenty working days from the day your file is complete.
Can customers pay shops in bitcoin?
No. Unbacked digital assets may not be used as a means of payment anywhere in Kazakhstan.
What does a seller pay in tax?
Ten percent on the gain between purchase and sale, since 1 January 2026.
How do I check a firm?
AFSA publishes a register of digital asset service providers. The National Bank publishes a register of exchange operators.
Sources
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Updated 09.10.2026 · this is reference material, not legal advice