Kazakhstan Plans to Allow Enterprises and Government Entities to Use Stablecoins for Cross-Border Payments

Odaily reported that Kazakh President Kassym-Jomart Tokayev has signed a presidential decree on "Measures to Stimulate and Develop the Digital Asset Industry," proposing to allow enterprises and government agencies to use stablecoins for cross-border payments.

The decree states that researching crypto asset payment mechanisms will open new import and export business channels for Kazakhstan. At the same time, it plans to exempt individuals from personal income tax on crypto transactions conducted through state-regulated infrastructure and encourages users to transfer digital assets previously held on unregulated overseas platforms to local service provider platforms.

Additionally, the decree restricts the use of associated natural gas for crypto mining, stipulating that this resource can only be used for digital asset mining if it is "not required to meet national needs." The decree was jointly drafted by Kazakhstan's Ministry of Digital Development, Innovation and Aerospace Industry, the central bank, and the Astana International Financial Centre. (Bits.media)