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Kazakhstan vs Saudi Arabia

Crypto regulation comparison

← Back to map | Kazakhstan | Saudi Arabia
Kazakhstan

Kazakhstan

Saudi Arabia

Saudi Arabia

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.

Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.

Tax Type Capital gains
Tax Type None
Tax Rate 10%
Tax Rate 0%
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Regulator SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
Stablecoin Rules No regulation; crypto trading not authorized
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
  • SAMA has not authorized or licensed any cryptocurrency exchanges
  • Financial institutions warned against crypto transactions
  • Crypto not explicitly banned but not regulated; exists in a legal gray area
  • No personal income or capital gains tax in Saudi Arabia
  • Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
Sources
Sources