Kazakhstan’s AFSA To Undertake Stablecoins for Regulatory Charges

Kazakhstan’s monetary regulators have allowed license and supervision charges to be paid in USD-pegged stablecoins.

Kazakhstan’s Astana Monetary Providers Authority (AFSA), a delegated monetary authority for the Astana Worldwide Monetary Centre (AIFC), has launched a mission enabling AIFC members to pay regulatory charges in USD-pegged stablecoins.

The regulator introduced on Thursday that the mission 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 stated.

Changing fiat-only funds

At the moment, corporations pay regulatory charges primarily by means of conventional strategies akin 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 usually contain delays, excessive transaction prices and restricted flexibility, particularly for corporations whose major treasury is held in digital property,” the consultant stated.

With stablecoins like Tether USDt (USDT) or Circle’s USDC (USDC), the events are supplied with a quick, cost-efficient, and clear fee choice, the Bybit spokesperson famous.

Participation is topic to eligibility standards

In keeping with the official assertion from the AFSA, the mission’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 collaborating within the new mission will probably be revealed on the official AFSA web site after signing an MMoU, the regulator stated.

Cointelegraph approached the AFSA for remark concerning the mission particulars, together with eligibility standards, however had not obtained a response on the time of publication.

Associated: 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 aiding the launch of Central Asia’s first spot Bitcoin ETF by the native firm Fonte Capital in August.

Kazakhstan has emerged as a significant participant within the crypto business, together with cryptocurrency mining. In June, native authorities additionally reported finding out the idea of a state-run crypto reserve, possible funded by digital property mined or seized by the federal government.