Kazakhstan’s financial regulators now allow license and supervision fees to be paid in USD-pegged stablecoins, such as Tether USDt and Circle’s USDC. The Astana Financial Services Authority (AFSA) launched a project at Astana Finance Days 2025, signing a memorandum of understanding with centralized crypto exchange Bybit.

This initiative offers a new regulatory framework for payments in stablecoins in the region, demonstrating Kazakhstan’s ambition to position the AIFC as a hub for digital finance. Bybit spokesperson highlighted that traditional payment methods involve delays, high costs, and limited flexibility, making stablecoins a faster, cost-efficient, and transparent option.

Participation in the project requires signing a memorandum of understanding and meeting eligibility criteria set by the AFSA. Bybit became the first signatory of the MMoU, signed during the event with AFSA CEO Evgeniya Bogdanova and Bybit CEO Mazurka Zeng. The names of providers participating in the project will be published on the AFSA website.

Bitfinex Securities’ head of operations Jesse Knutson praised the AFSA’s project for embracing stablecoins like USDt for regulatory fees, stating it shows the importance of stablecoins in developing tokenized financial markets. The news comes as Kazakhstan gains momentum in the crypto industry, with BitGo assisting in launching Central Asia’s first spot Bitcoin ETF.

Kazakhstan has been emerging as a major player in the crypto industry, including cryptocurrency mining activities. In June, local authorities reported studying the concept of a state-run crypto reserve funded by digital assets mined or seized by the government. This development showcases Kazakhstan’s growing interest and involvement in the digital asset space.

Read more at cointelegraph.com: Kazakhstan’s AFSA To Adopt Stablecoins for Regulatory Fees