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. The company will also be permitted to open offices throughout Kazakhstan and install Bitcoin ATMs, making regulated crypto services more accessible to the public.
This is the first exchange to receive approval under Kazakhstan’s new licensing framework, which came into effect on May 1, 2026. Under the updated rules, crypto businesses must obtain a license from the National Bank and register with regulators before they can legally operate.
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.
Before this, legal crypto trading mostly happened on exchanges inside the Astana International Financial Centre. Because of this, many users turned to peer-to-peer deals, foreign exchanges, and other unregulated platforms.
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 say the new licensing regime is designed to encourage more legitimate crypto businesses while strengthening oversight of the sector. The effort also supports Kazakhstan’s ambition to establish itself as a regional crypto hub in Central Asia.
The announcement follows an ongoing crackdown on illegal crypto operations. Last year, law enforcement agencies shut down around 130 unlicensed trading platforms that had reportedly processed roughly $127 million in digital asset transactions. 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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