In Kazakhstan, crypto exchanges are legal only under an AFSA licence within the AIFC. Two statuses apply to the market: the full regulatory regime and the sandbox regime. Below is how to verify a platform against the register, how the licence tiers differ, and how to buy or cash out crypto in tenge within the legal perimeter.
Since 1 April 2023, Kazakhstan's Law "On Digital Assets" has been in force: unbacked digital assets may be traded only on platforms holding an AFSA licence within the AIFC. Outside this jurisdiction, the issuance, circulation and operation of trading platforms are prohibited.
Are crypto exchanges legal in Kazakhstan?
Yes, but only within the AIFC (Astana International Financial Centre). You can buy, sell and exchange crypto through a provider that is licensed by AFSA and operates in this jurisdiction.
Regulators split the areas of responsibility. The National Bank of Kazakhstan is responsible for overall financial policy. The AFSA (Astana Financial Services Authority) regulates digital-asset market participants inside the AIFC.
What is legal:
- trading through an AFSA-licensed platform in the AIFC;
- transactions with providers listed in AFSA's official register;
- services for which the company holds a valid licence.
What is prohibited: platforms outside the AIFC jurisdiction, ICOs without a licence, and paying for goods and services with crypto within Kazakhstan.
Before registering, check the exchange's status against the public register of AFSA-licensed providers. Look at the company name, the licence number and the list of permitted services — the brand alone guarantees nothing.
AFSA licence tiers: full regime and sandbox
For a platform in the AIFC, it is not only the register entry that matters, but also the licence status. It determines the range of permitted operations and the level of supervision.
The full regime is usually tied to a Digital Asset Trading Facility (DATF) licence; in the register such permissions carry the "A" prefix. In September 2024, Binance Kazakhstan (legal entity BN KZ Technologies Limited) and Bybit Kazakhstan (Bybit Limited) moved to the full regime. ATAIX Eurasia switched to the full regime in October 2025 — among the licensed platforms, it is the only Kazakhstani company.
The FinTech Lab sandbox regime ("G" prefix) is also legal, but it is a test format with restrictions on products, limits and client categories. Intebix, CaspianEx (Top Line Ltd.), Cronex, Neyco and other platforms have operated and continue to operate under it.
Unlicensed platforms are a red flag. They are not subject to AFSA regulation, and their websites and services may be blocked. AFSA identifies such projects together with Kazakhstan's government agencies. The user is left without legal protection.
Ranking of licensed crypto exchanges in Kazakhstan
The table above brings together exchanges filtered for Kazakhstan — you can sort them by rating, trading volume, number of pairs and year of market entry. Below is what matters most about the licence of each full-regime platform.
Binance Kazakhstan is chosen for its wide selection of pairs and high liquidity. Check how convenient tenge deposits and withdrawals are, and which terms are available within the Kazakhstani perimeter at the time you register.
Bybit Kazakhstan appeals to those who value the interface and ease of use of the platform. Compare on practical parameters: local funding channels, the reliability of tenge withdrawals, and real fees after discounts and account tiers.
ATAIX Eurasia is a local alternative to the large international brands. Its global liquidity is lower, but for some users regional focus, KZT support and deposit/withdrawal flows tailored to the local market matter more.
When choosing between platforms, it helps to look at four factors:
- the AFSA licence tier — full "A" or sandbox "G";
- the availability of KZT deposits and withdrawals without workarounds;
- the real trading volume on the pairs you need;
- the rating and order-book depth, if order execution matters to you.
How to legally buy and cash out crypto in tenge
The legal route in 2026 is straightforward: open an account on an AFSA-licensed exchange, complete verification (KYC), fund the account in tenge, buy an asset on the spot market or via P2P, and withdraw KZT through approved channels.
Depositing and withdrawing tenge through banks. Since January 2026, a pilot integrating AIFC exchanges with second-tier banks has been running — Halyk Bank, Jusan Bank and Bereke Bank are named in the perimeter. This makes it possible to legally move KZT in and out between licensed platforms and bank accounts.
- Register on an AFSA-licensed exchange.
- Complete identity verification (usually your IIN, a document and a selfie).
- Fund your account in tenge.
- Buy crypto on the spot market or via P2P.
- To cash out, sell the asset for KZT and send the tenge to a bank account.
Spot or P2P
If the exchange has a liquid pair against the tenge, it is easier to buy on the spot market: you can see the order book, the price and the fee, and the asset lands in your exchange wallet immediately. P2P works when you need a different payment method or when spot liquidity is thin — but operational risk is higher there, so check the counterparty's rating, number of trades and limits.
Crypto cards
You can already pay for purchases via the Binance.kz Wallet; issuing crypto cards for licensed platforms is permitted by law. Even so, always check the fees, the conversion rate and the tax treatment of the specific transaction separately.
How to choose an exchange in Kazakhstan
First, check the platform's legal status. AFSA's full regime is preferable to the sandbox, because it provides a more stable range of permitted operations. If an exchange operates outside the AIFC and without an AFSA licence, that is a red flag for a user in Kazakhstan.
Next, look at how it handles tenge, the fees across the whole chain (maker/taker, deposit/withdrawal, spread, KZT⇄USD⇄crypto conversion) and liquidity on the pairs you need — BTC/KZT, USDT/KZT and others. A low trading fee does not always deliver the best final price: on thin liquidity, slippage losses outweigh the savings on fees.
Plans for 2025–2026: where the market is heading
The market in Kazakhstan is moving toward broader legal circulation of crypto assets — through dedicated regimes and special rules.
One notable signal is the CryptoCity project: President Tokayev announced this pilot zone with crypto settlements at the AIF-2025 forum and mentioned it in his address of 8 September 2025. In parallel, a State Fund of Digital Assets and a crypto reserve are being discussed, along with the preparation of a "Digital Code" that could narrow the legal gaps between the AIFC and nationwide regulation.
From 2026, the AIFC officially permits the issuance of certain types of stablecoins — this shifts the market from pure spot trading toward settlement instruments and tokenized services. The Ministry of Digital Development (Zhaslan Madiyev) has also floated the idea of a network of crypto ATMs and legal exchange offices.
The takeaway for choosing an exchange: in 2026, a licence loses none of its value, but a platform's readiness to operate within the new infrastructure matters more — support for AIFC settlement scenarios, a transparent stablecoin policy, and quick adaptation to new rules after the launch of CryptoCity and the adoption of the "Digital Code".
Frequently asked questions
Is it legal to buy crypto in Kazakhstan?
Yes, provided you buy through an AFSA-licensed platform in the AIFC jurisdiction that is included in the AFSA register. Paying for goods and services with crypto in Kazakhstan is not allowed.
Which crypto exchanges are licensed by AFSA?
On the full regime, the ones usually listed are Binance Kazakhstan, Bybit Kazakhstan and ATAIX Eurasia; in the sandbox — Intebix, CaspianEx, Cronex, Neyco. The composition of the list changes, so the authoritative source is the AFSA register.
How does the full regime differ from the sandbox?
The full regime is a permanent licence with a wide range of operations and standard supervision (the "A" prefix). The sandbox is a test regime with restrictions (the "G" prefix).
How do you cash out crypto into tenge?
The basic legal route is through a licensed AIFC exchange and the pilot banks (Halyk, Jusan, Bereke). P2P and transfers to Kaspi are also used. Check in advance whether the platform supports KZT withdrawals directly.
Can you legally use Binance and Bybit in Kazakhstan?
Yes, if it concerns the local entities Binance Kazakhstan and Bybit Kazakhstan under the licensed AFSA regime, rather than an arbitrary global brand website.
Do you have to pay tax on crypto in Kazakhstan?
Don't ignore the tax question: income from selling or exchanging a crypto asset may have tax consequences. The details depend on your status and the current rules — it is best to check them against Kazakhstan's tax law in force and the AIFC regime.
