Kazakhstan introduced tax incentives to encourage individuals to declare encrypted assets

According to Euronews, Kazakhstan has introduced tax incentives to encourage individuals to declare encrypted assets and to transfer them to their own licensed platforms. Eligible personal digital asset transaction income is subject to a three-year tax benefit but may not involve fraud, money-laundering or unauthorized encryption services. The local population owns about 1 million encrypted wallets, while the national authorized trading platform had only about 256,900 registered users as of March. The Vice-Ministers of AI and Digital Development of Kazakhstan indicated that the Government was studying a simplified tax system after the end of the concession period and was considering eliminating the related tax audits of individual investors for the past three years。