Kazakhstan vs Rwanda
Crypto regulation comparison
Kazakhstan
Rwanda
Legal
Restricted
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.
Rwanda is developing a comprehensive crypto regulatory framework. The NBR and Capital Markets Authority are drafting a law requiring VASPs to obtain CMA licenses. The draft law prohibits crypto as legal tender, bans mining and crypto ATMs, and imposes fines up to 30M RWF and imprisonment for unlicensed operators.
Tax Type
Capital gains
Tax Type
None
Tax Rate
10%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Regulator
National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
Stablecoin Rules
AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
Stablecoin Rules
Draft law prohibits crypto as payment; mining and crypto ATMs banned
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
- Draft law requires VASPs to obtain licenses from Capital Markets Authority
- Crypto prohibited as legal tender or payment method under draft law
- Crypto mining, crypto ATMs, and mixer/tumbler services banned
- Penalties include fines up to 30M RWF and up to 5 years imprisonment
- Framework driven by FATF compliance on AML requirements