Article 1. The basic concepts used in this Law of the Law on Digital Assets in the Republic of Kazakhstan

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The following basic concepts are used in this Law:

1) registration – the inclusion of the operator of the digital financial assets platform, the operator of the digital assets trading platform in the register of operators of the digital financial assets platform, the register of operators of the digital assets trading platform;

2) a digital platform for the storage and exchange of secured digital assets is a set of digital technologies built on the basis of a distributed data platform that implements certain information interactions and are designed to solve specific functional tasks that enable information exchange.;

3) an unsecured digital asset is a digital asset that is not a digital financial asset;

3-1) the operator of the exchange of unsecured digital assets is a provider of digital asset services that carries out dealer activities in the digital asset market on the basis of a license from the National Bank of the Republic of Kazakhstan – transactions for the exchange, purchase and (or) sale of unsecured digital assets in the interests of its customers;

3-2) impeccable business reputation – professionalism and integrity of a person, confirmed, among other things, by the absence of facts:

the commission by the specified person of illegal actions (inaction) that led to insolvency, which led to the compulsory liquidation of a financial institution, or to the application of a settlement regime to the bank;

the person's outstanding or outstanding criminal record, including the absence of a judicial act that has entered into legal force on the application of criminal punishment to a person in the form of deprivation of the right to hold the position of a senior employee of a financial institution, a banking and (or) insurance holding company and to be a major participant (major shareholder) of a financial institution for life;

the existence of relations with third parties (control and influence of third parties), whose actions contributed to the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction, based on information from the authorized financial monitoring body;

 4) digital asset – property created in electronic and digital form with the assignment of a digital code, including using cryptography and computer computing, which is not a monetary unit of account and (or) legal tender, registered and secured by the immutability of information based on the technology of a distributed data platform.

The types of digital assets are:

a digital financial asset;

an unsecured digital asset;

4-1) turnover of a digital asset – making civil law transactions with a digital asset; -Excluded by the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII SAM

4-2) a digital asset wallet is a software or hardware tool that is used to store or manage cryptographic keys, providing access to digital assets and conducting transactions with them.;

4-3) turnover (circulation) of digital assets – making civil transactions with digital assets on the territory of the Republic of Kazakhstan or with the participation of a citizen, resident of the Republic of Kazakhstan or a legal entity registered in the Republic of Kazakhstan, including the purchase, sale, exchange, transfer, storage of a digital asset;

5) digital asset exchanges – legal entities that provide organizational and technical support for trading, issuance, settlement and storage of digital assets;

5-1) digital asset trading platform operator is a digital asset service provider included in the register of digital asset trading platform operators of the National Bank of the Republic of Kazakhstan, which provides organizational and technical support for digital asset trading by conducting them directly using the provider's trading system.;

5-2) register of digital asset trading platform operators – a single list of digital asset trading platform operators that have been registered with the National Bank of the Republic of Kazakhstan;

5-3) digital asset service provider is a digital asset market entity that provides services related to digital assets and is registered in the Kazakhstan segment of the Internet.

The providers of digital asset services are:

operator of the digital financial assets platform;

operator of a digital asset trading platform;

the operator of the exchange of unsecured digital assets;

participants of the Astana International Financial Center, including the digital asset Exchange, who have the appropriate license to carry out activities related to digital assets;

5-4) digital asset analysis and control system (hereinafter referred to as the transaction analysis and control system) is a digital platform or service designed to monitor transactions with digital assets, track transactions and identify suspicious activities;

6) authorized body in the field of digital assets (hereinafter referred to as the authorized body) – the central executive body responsible for management and intersectoral coordination in the field of digital assets; - Excluded by the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII SAM

6-1) the release of a digital asset is an action aimed at the emergence of a digital asset as an object of civil rights;

6-2) placement of digital financial assets is the initial offering of digital financial assets to investors, carried out through the digital platform of the operator of the digital financial assets platform;

6-3) the accounting system for holders of digital financial assets is the accounting system of the operator of the digital financial assets platform, providing:

accounting and storage of information about holders of digital financial assets and digital financial assets belonging to them;

identification of holders of digital financial assets at a certain point in time;

registration of transactions with digital financial assets;

accounting and storage of information on registered restrictions (encumbrances) on the circulation or exercise of rights to digital financial assets;

accounting and storage of other information provided for by the legislation of the Republic of Kazakhstan.

The procedure for digital financial asset platform operators to maintain a digital financial asset accounting system, the list of other information to be recorded and stored in the digital financial asset accounting system, as well as the procedure for digital financial asset platform operators to transfer information from the digital financial asset accounting system to the central securities depository are determined by a joint regulatory legal act of the National Bank of the Republic of Kazakhstan and the authorized the authority for regulation, control and supervision of the financial market and financial organizations;

6-4) digital financial assets platform operator is a digital asset service provider included in the register of digital financial assets platform operators of the National Bank of the Republic of Kazakhstan, providing access to the digital platform and its functioning, using which the following operations are carried out:

issuance and (or) turnover (circulation) of digital financial assets;

accounting and storage of digital financial assets;

formation, maintenance and storage of an accounting system for holders of digital financial assets issued and/or traded on the specified digital platform;

6-5) register of digital financial asset platform operators – a single list of digital financial asset platform operators that have been registered with the National Bank of the Republic of Kazakhstan;

6-6) digital financial asset:

a digital asset certifying the right of monetary and (or) other claims in respect of the underlying asset of such a digital asset, issued on the digital platform of the operator of the digital financial assets platform and traded on the digital platform of the operator of the digital financial assets platform and (or) the operator of the digital assets trading platform;

a financial instrument and (or) a financial asset issued on the digital platform of the operator of the digital financial assets platform and traded on the digital platform of the operator of the digital financial assets platform and (or) the operator of the digital assets trading platform.

Placement, turnover (circulation) and repayment of a digital financial asset are carried out in accordance with the terms of the issue of such a digital financial asset.;

6-7) repayment of a digital financial asset – withdrawal of a digital financial asset from circulation in connection with the repayment of the relevant obligations of the issuer of such a digital financial asset and (or) for other reasons in accordance with the terms of the issue of a digital financial asset;

6-8) the underlying asset of a digital financial asset is property, the value or magnitude (including fluctuations in value or magnitude) of which determines the value of the corresponding digital financial asset and in respect of which the holder of the digital financial asset has the right to monetary and (or) other claims.

The underlying asset of a digital financial asset may be a financial instrument (including money, securities, including derivative securities, derivative financial instruments, or other digital financial asset), property right (claim), commodity, and/or other property;

6-9) the organization for the storage of the underlying asset of a digital financial asset is a legal entity resident in the Republic of Kazakhstan that carries out accounting and storage of the underlying asset of a digital financial asset with the assumption of obligations for its safety, as well as other activities in accordance with the laws of the Republic of Kazakhstan;

6-10) the issuer of a digital financial asset is a legal entity resident in the Republic of Kazakhstan that issues digital financial assets.;

7) digital miner – an individual entrepreneur or a legal entity of the Republic of Kazakhstan engaged in digital mining activities;

8) digital mining is the process of performing computing operations using computer power according to specified encryption algorithms, ensuring confirmation of the integrity of data blocks through the blockchain;

9) digital mining data processing center – an object of digital infrastructure consisting of a hardware and software complex for digital mining, ensuring the functioning of computing power, located outside the residential area, using electric energy in accordance with the Law of the Republic of Kazakhstan "On Electric Power Industry";

10) digital mining pool is a legal entity accredited in accordance with the legislation of the Republic of Kazakhstan on digital assets, providing a service for combining the capacities of a hardware and software complex for digital mining of digital miners, distributing digital assets between digital miners that have arisen (created) as a result of their joint activities.

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Republic of Kazakhstan

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