Kazakhstan Approves Rules for Digital Tenge Circulation

Kazakhstan has officially approved the rules for the issuance, circulation and redemption of the digital tenge. The document, signed by the head of the National Bank, defines how the national digital currency platform will work, who will be able to open digital accounts, how transactions will be carried out and when access to funds may be limited, Orda.kz reports.

According to the rules, which will come into force on July 19, 2026, the National Bank will be the operator of the digital tenge platform. It will issue digital tenge, organize their circulation and handle redemption. The National Payment Corporation of the regulator has been designated as the platform’s technical operator.

Digital tenge may be stored not only in digital accounts, but also on external electronic media. The document says users will be able to manage digital tenge through such devices, provided they comply with the platform’s technical requirements.

Platform participants, including banks and other organizations connected to the system, will be able to open digital accounts. At the same time, each user will be allowed to have only one digital account. The rules do not provide for savings accounts. To open an account, users will need to submit an application and pass checks required under anti-money laundering and counterterrorism financing legislation.

Digital accounts can be replenished in several ways: by depositing cash, transferring money from a regular bank account, or receiving digital tenge from another digital account. Withdrawals will also be possible — users will be able to exchange digital tenge back into cash or transfer the equivalent amount to a bank account.

The rules separately define cases in which operations on a digital account may be suspended. These include suspected fraud, violations of financial monitoring requirements, decisions by state bodies, seizure of funds, and suspected unauthorized account access. At the same time, some digital tenge will be exempt from standard restrictions. This applies to funds stored on external electronic media and digital tenge linked to smart contracts. They will not be subject to seizure or suspension of spending operations.

The document also describes the mechanism for marking digital tenge. Each unit of digital currency may be assigned unique alphanumeric or graphic symbols to track transactions. In addition, the rules allow the use of smart contracts — automatic conditions for spending funds. For example, digital tenge may be programmed to be used only for certain purposes or within a limited period.

The rules also provide for international transactions with digital tenge. Such transfers may be carried out through cooperation between digital currency platforms of different countries or through mutual access for foreign participants to national platforms. For this, the National Bank will need to conclude separate bilateral or multilateral agreements with foreign central banks and digital currency operators.

A separate chapter of the document is devoted to information security. The national center and platform participants must store data on all transactions, ensure cryptographic protection of information and record an audit trail of all actions in the system. Information about transactions and security incidents must be kept for at least five years.

Original author: Alexander Smolin

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