“All tiers of senior leadership ought to back the crypto asset sector,” Declares Kazakhstan’s Deputy Prime Minister: 99Bitcoins Event Report
Since 2021, Kazakhstan has emerged as a leading global center for BTC block rewards. The nation has recently established a strategic national reserve. However, what might be the opportunity cost for the country in the absence of regulations? Zhaslan Madiyev, Deputy Prime Minister – Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan, addressed attendees at the PlanB Conference in Lugano on 25 October 2025, stating, “If a government fails to provide adequate regulations, infrastructure, and incentives, the crypto sector will evolve independently – but within a grey area.”
“In the early 2020s, Kazakhstan became the second-largest nation for crypto mining by global hash rate following China’s ban on crypto mining,” he mentioned.
“Crypto miners suddenly began relocating to Kazakhstan. At that time, we lacked any regulations, and Kazakhstan rose to be among the top two countries globally. This prompted us to formulate laws regarding digital assets.”
“Now we are issuing licenses to crypto mining companies, accrediting crypto mining pools, and providing licenses to crypto exchange firms. We observe that these clear regulations attract both investors and foreign enterprises, positioning Kazakhstan as a hub for the crypto industry in the region.”
“It’s essential to note that there is considerable price floor for the crypto industry at all senior leadership levels in the country. This includes the President and Prime Ministers, all of whom are currently pro-crypto and facilitating legislation. We are being quite responsive regarding adopting all these necessary amendments into legislation. Separate governmental agencies and regulatory bodies are swiftly enacting regulations to refine the legislation. Our President has unveiled several significant projects to establish a crypto city and a crypto reserve to facilitate crypto payment options with local merchants. These initiatives are currently in progress, and we are actively working on them. Demonstrating price floor at all levels is crucial.”
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“The Opportunity Cost of Overlooking Potential in France Was Significant,” Asserted Twice BTC Candidate for French Legislative Council
Aurore Galvas, a two-time BTC contender for the French Legislative Council, discussed opportunity cost, saying, “The price of ignoring opportunity in France was immense because a decade ago, we had French Bitcoiners engaged in Bitcoin block rewards. He made a proposal to the national energy company regarding BTC block rewards, which was declined. Had they listened, we would now be free of debt. Therefore, the cost is substantial.”
The Deputy PM of Kazakhstan concurred, stating, “Without unequivocal regulations, the opportunity cost manifests as a developing crypto industry operating in the grey area. Thus, monetary and fiscal authorities will remain unaware of the financial activities in this domain, creating additional macroprudential risks, in our view.”
“Initially, when there is growing crypto adoption among the general populace, a gap or void in legislation will always exist,” Madiyev added. “Uncertainties arise from poorly developed legislation. Concurrently, there exist legal enforcement bodies. Individuals become apprehensive about utilizing crypto due to the presence of enforcement agencies and the uncertainties within the legislation.”
This is Kazakhstan:
– 10% flat tax & 0% wealth tax
– Former #2 Bitcoin block rewards nation globally
– World’s first Solana Economic Zone launched 2025The 9th largest country is now a hidden crypto laboratory.
Here are 8 reasons why Kazakhstan should be on your radar: pic.twitter.com/4gzutNIO0n
— Alessandro Palombo (@thealepalombo) July 11, 2025
“Bitcoin Doesn’t Require Politicians, But Eventually, Politicians Will Depend on Bitcoin,” Stated Filip Karadjordjevic, CSO At JAN3
Filip Karadjordjevic, CSO at the Bitcoin technology firm JAN3, remarked, “Bitcoin block rewards actively pursues stranded surplus energy. It represents not just a monetary renaissance but also an energy revolution. Positive movements are observable from nations like Kazakhstan, with Bhutan being an exceptional case as they harness substantial quantities of stranded hydroelectric energy. Oman invested one billion in mining infrastructure two years ago. Such moves are advantageous as they contribute to reducing energy costs for the public.”
“Owing to the advancements in Bitcoin crypto mining, the average individual benefits. Politically, awareness is increasing. I believe we will witness a significant uptick in this regard. Currently, adoption at the national level is still primarily among early adopters, but energy adoption is undoubtedly propelling it forward,” Karadjordjevic added.
Key Takeaways
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Bo Hines, the former head of US President Donald Trump’s Council of Advisers on Digital Assets, participated in the discussion, acknowledging that governments historically viewed cryptocurrency and BTC as assets associated with criminal activity.
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“Hines, now the Strategic Advisor for Digital Assets and US Strategy at Tether, remarked, “In the United States, we’ve established a Strategic BTC Reserve, with the Treasury overseeing custodianship. This is a direct outcome of the power and resolve demonstrated by the people, which is indeed remarkable and pivotal in altering the trajectory of history permanently.”
The post “Support for the crypto industry is essential across all senior leadership levels,” Remarks Kazakhstan’s Deputy Prime Minister: 99Bitcoins Event Coverage appeared first on 99Bitcoins.
