Kazakhstan plans to launch an experimental area called “Cryptocity”, where cryptocurrencies can be used to pay the price of goods and services, according to the May 29 announcement on President Kassym-Jomart Tokayev.
to talk At the Astana International Forum 2025, Tokayev said that Kazakhstan will create an encrypted experimental area to explore the accreditation of the cryptocurrency within an organized sand environment.
He said: “We are planning to create a leading experimental area called Cryptocity where cryptocurrencies can be used to buy goods and services, and then after.”
A report issued by Tengri News on May 29, Minister of Digital Development in Kazakhstan, Minister of Digital Development, Zassel Madeyev, stated that “the government and organizers are currently working together to determine the most appropriate location.” One city is already under serious view.
“Of course, the most promising place for encryption is the new Alatau city – it’s the president’s initiative,” he said.
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Why building an encrypted in ATOO?
Ateau is a relatively close settlement from the southeastern border of Kazakhstan. It was established in 1957 as a settler whose name was not revealed to scientific institutions and its workers and includes the Institute of Nuclear Physics, the National Kazakhstan Nuclear Center, with a experimental nuclear reactor and Siklotron, and the Institute of Physics and Technology.
Unlike the work as the Kazakhstan Research Center, Alatau also hosts the Special Economic Zone known as the “Innovation Technology Park”. Thus, the organizers may feel that adding another one to this mix is a natural step that may lead to synergy that may attract additional capital. Madeyif shed light on how the encryption will be everywhere in the area:
“The concept is that the cryptocurrency will be used as a way to pay – to pay in restaurants and cafes and buy real estate and make investments. I think this may be a major penetration of the Blockchain industry.”
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Kazakhstan bet on encryption
Madeyif expressed his hope that the project will attract developers, programmers and information technology specialists to Kazakhstan, thus enhancing local economic growth.
While he pointed out that the focus on working on the organizational framework, he said that “the city itself is already under development” and highlighted that “encryption involves free trading of cryptocurrencies and friendly legislation for encryption and encryption as a legal means of payment.”
“These conditions must be reflected in the law,” he added.
This is just the latest ads that hang back encryption to appear from Kazakhstan. Earlier in May, Kanysh Tuleushin, the first deputy minister of digital development in the country, said that Kazakhstan has the ability to become a major center for encryption in Central Asia if organizational restrictions are reduced.
In late 2024, Kazakhstan launched a new pilot project in the currency of the digital central bank, which was reported significantly from waiting for added tax recovery.
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