(24 February 2026 | Source: "Open NLA" portal)
The National Bank and The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM RK) have put out for public consultation a draft regulation on reporting for organisations that hold the underlying assets of digital financial assets (DFAs).
The document is published on the "Open NLA" portal and defines the forms, deadlines, and procedure for submitting data. The draft also provides for strengthening supervisory mechanisms in the field of digital financial instruments.
LEGAL BASIS FOR DEVELOPMENT
The draft has been prepared in implementation of Presidential Decree No. 1042 dated 13 October 2025, adopted as part of the implementation of the Head of State's Address "Kazakhstan in the Era of Artificial Intelligence: Current Tasks and Their Solutions through Digital Transformation".
Also, the document takes into account changes introduced in January 2026 to legislation on the regulation and development of the financial market, communications, and bankruptcy.
These steps demonstrate the consistent development of the regulatory framework in the sphere of digital financial instruments, which are becoming part of the country's digital infrastructure.
WHAT REQUIREMENTS ARE BEING INTRODUCED
The draft provides for the systematic collection of data from organisations that are custodians of the underlying assets of DFAs. In particular, it establishes:
- reporting forms;
- reporting frequency;
- data submission deadlines;
- instructions for completing reports.
According to the draft materials, the reporting will be used to analyse the status of the underlying and highly liquid assets backing the issuance of digital financial assets, as well as to make regulatory decisions when necessary.
DISCUSSION REGARDING THE COMPLETENESS OF THE PUBLICATION
During the public consultation on the portal, some participants noted the absence of the full text of the resolution and reporting forms in the public domain. Representatives of the National Bank explained that, due to technical updates to the portal, only the main content of the draft has been posted in a form accessible for review.
The absence of detailed forms and indicators at the consultation stage may require additional clarifications from the developer, as market participants need specific reporting parameters to assess the potential regulatory burden.
DEADLINES AND CONSEQUENCES
The public consultation on the draft will last until 6 March 2026. Interested parties may submit proposals and comments via the official portal. The final version of the document will be drafted taking into account the feedback received and the results of anti-corruption and economic expert reviews.
According to the developers' assessment, the adoption of the document will not entail any negative socio-economic or legal consequences.