Kazakhstan has given out its first cryptocurrency exchange license under new national digital asset rules, marking a big step in building a regulated crypto market. The National Bank of Kazakhstan (NBK) gave the license to Pax Finance, letting it legally offer crypto exchange services across the country. This move expands trading beyond the Astana International Financial Centre (AIFC) and shows the government’s plan to bring more digital asset activity under regulation.
According to local reports, the license allows Pax Finance to buy, sell, store and exchange cryptocurrencies for fiat currency. Additionally, the business will be allowed to set up Bitcoin ATMs and build offices around Kazakhstan, increasing public access to regulated cryptocurrency services.
Under Kazakhstan’s new licensing regime, which went into force on May 1, 2026, this is the first exchange to be approved. According to the revised regulations, in order for cryptocurrency enterprises to function lawfully, they must register with regulators and receive a license from the National Bank.
Source: nationalbank.kz
Pax Finance was set up in May this year by well-known people from Kazakhstan’s finance and digital asset sectors. The government hopes that letting licensed firms operate across the country will cut down on unregulated trading and better protect investors.
Prior to this, the Astana International Financial Center’s exchanges were the primary venues for legitimate cryptocurrency trading. Peer-to-peer transactions, international exchanges, and other unregulated platforms became popular as a result.
Kazakhstan has grown its digital asset industry over the past few years. It became a top spot for Bitcoin mining after China banned it, and introduced its Digital Assets Law in 2023. Still, trading was limited until these new reforms.
Authorities claim that the new licensing system will strengthen industry regulation and encourage more respectable cryptocurrency businesses. The program also aids Kazakhstan in achieving its objective of becoming a regional hub for cryptocurrencies in Central Asia.
The announcement follows an ongoing crackdown on illicit crypto activities. Approximately 130 unauthorized trading sites that purportedly handled $127 million in digital asset trades were shut down by law authorities last year. Officials also seized more than $3 million worth of USDT during the operation.
Kazakhstan’s plans go beyond just exchange licensing. Earlier this year, National Bank Governor Timur Suleimanov said the country plans to invest up to $350 million from its gold and foreign exchange reserves into cryptocurrencies, crypto companies, and digital finance products.
Қазақстанда алғашқы лицензияланған криптоайырбастау пункті пайда болды https://t.co/Rm36Py01PG pic.twitter.com/cVAkXI9WHX
— BAQ.kz (@baqkz) July 2, 2026
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