Kazakhstan’s Bold Move: President Unveils Crypto City and AI Hub to Challenge Silicon Valley’s Tech Dominance!

Updated

May 30, 2025

Gambar Kazakhstan’s Bold Move: President Unveils Crypto City and AI Hub to Challenge Silicon Valley’s Tech Dominance!

Jakarta, Pintu News – Kazakhstan will launch a new pilot zone called CryptoCity, where cryptocurrencies will be used as a means of payment and to drive digital innovation.

The announcement was made by President Kassym-Jomart Tokayev at the Astana 2025 International Forum. The initiative aims to create an organized environment to support the adoption of digital assets and the development of blockchain technology.

Kazakhstan CryptoCity to Pioneer Cryptocurrency Payments

president of kazakhstan — President of Kazakhstan – Source: Akorda.kz

Kazakhstan’s President Kassym-Jomart Tokayev announced the government’s plan to establish CryptoCity, an innovative pilot zone.

In this region, cryptocurrencies will be accepted as a means of payment for the purchase of goods, services and even property. The project is designed as a sandbox of sorts, where the legal use of digital currencies will be tested under regulatory supervision.

The initiative aims to make cryptocurrency an officially recognized payment method, while attracting developers and investors.

“We plan to create a pioneering pilot zone called CryptoCity, where cryptocurrencies can be used to buy goods, services, and even more,” Tokayev said in his speech.

The government of Kazakhstan is ambitious to establish a legal framework that allows the free circulation of cryptocurrencies within the zone.

The pilot program will allow businesses and consumers to transact using digital assets, while regulators monitor compliance and potential risks.

Alatau Selected as CryptoCity Location

Alatau City has been designated as the location for the construction of CryptoCity due to the technological and research infrastructure already available there.

Alatau is home to the Kazakhstan Innovation Technology Park as well as several scientific institutions, making it an ideal location for the development of blockchain technology and digital finance.

The Minister of Digital Development, Zhaslan Madiyev, stated that the government and regulators are currently finalizing the details of the project, but Alatau is the top choice due to its established technology base.

It is hoped that the existing technology ecosystem will create synergies and drive economic growth, in line with global trends such as in the United States and China that are starting to adopt cryptocurrencies.

“The concept is for cryptocurrencies to be used as a means of payment – to pay at restaurants, cafes, buy property, and invest,” says Madiyev. The city is also being developed to support crypto-friendly legislation and appropriate technological infrastructure.

This move is also in line with the partnership between Bitget Wallet, a non-custodial crypto wallet, and payment platform Coinpal, which aims to make it easier for users to spend their digital assets at various online stores.

Integration of CryptoCity with Kazakhstan’s Digital Economy Strategy

The construction of CryptoCity is part of Kazakhstan’s strategic steps in developing the national digital economy.

After introducing a central bank digital currency (CBDC) in 2024 that successfully accelerated the tax refund process, the country is now continuing its digital transformation through pilot zones that allow businesses to legally operate with digital assets, not just limited to public sector projects.

The government is working on regulations that will allow the use of cryptocurrencies in various sectors, including retail, hospitality, and property. The initiative is expected to attract IT professionals, create jobs, and position Kazakhstan as a leader in blockchain innovation in the Central Asian region.

CryptoCity is also planned to be a test bed for blockchain-based identity systems as well as digital taxation systems. The insights and data collected from these zones will form the basis for drafting future digital finance laws and regulations.

In addition to Kazakhstan, other countries continue to develop their digital asset strategies. One of them is Pakistan, which recently announced the first Bitcoin reserve managed directly by the government as part of their national strategy.

President Kassym-Jomart Tokayev’s Vision for Innovation and Stability

President Kassym-Jomart Tokayev emphasized the importance of the government’s role in bringing innovation without neglecting stability.

He outlined various modernization measures that are underway to update Kazakhstan’s government system and economy. These include limiting the term of office for the president and increasing the role and powers of parliament.

According to President Tokayev, investment in education and technology will make Kazakhstan’s economy more diverse and equitable for all people.

He stated, “We are forging ahead in digital transformation, and we aim to become a leading IT center in the Eurasian region.”

Tokayev also highlighted various global challenges such as geopolitical tensions and climate change, while affirming Kazakhstan’s commitment to peaceful development.

The CryptoCity project is an integral part of this vision, in line with the country’s goal of building a future-ready economic system.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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