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Kazakhstan vs Luxembourg

Crypto regulation comparison

← Back to map | Kazakhstan | Luxembourg
Kazakhstan

Kazakhstan

Luxembourg

Luxembourg

Legal
Legal

Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.

Luxembourg is a major European hub for crypto and blockchain financial services. The CSSF regulates VASPs and crypto-related investment funds. Crypto held for more than 6 months is generally exempt from capital gains tax for individuals, making it attractive for long-term holders. Luxembourg hosts several prominent crypto exchanges and fund administrators.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 10%
Tax Rate 0-42%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Regulator CSSF (Commission de Surveillance du Secteur Financier)
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
Stablecoin Rules Regulated under EU MiCA framework; Luxembourg hosts major stablecoin issuers
Key Points
  • AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
  • Mining is legal and licensed, with a specific tax on electricity consumption for miners
  • Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
  • 2022 mining crackdown introduced stricter licensing and energy consumption taxes
  • Outside AIFC, domestic crypto payments and exchanges face greater restrictions
Key Points
  • CSSF oversees VASPs under the Luxembourg AML/CFT framework
  • Individuals holding crypto for 6+ months are generally exempt from capital gains tax
  • Short-term gains taxed at progressive income tax rates up to 42%
  • Major hub for crypto investment funds and blockchain companies
  • MiCA framework fully applicable from December 2024
Sources
Sources