Kazakhstan has enacted a new law to regulate digital financial assets (DFAs), marking a significant step in the country's fintech and crypto industry development. President Tokayev signed the Law on Banking and Banking Activities and the Amendments to the Law on Financial Market Regulation and Development, which officially recognizes DFAs as a new asset class. The law categorizes DFAs into stablecoins, tokens based on physical assets, and electronic financial instruments. The legislation also addresses the regulation of unsecured digital assets like Bitcoin, allowing for the establishment of crypto exchanges licensed by the central bank. The central bank will compile a list of cryptocurrencies permitted for circulation and impose restrictions on trading activities to safeguard investor rights. Additionally, the law includes measures to monitor market participants and combat money laundering.