Is Buying Tether (USDT) Legal in Kazakhstan?

Yes, purchasing Tether (USDT) is legal in Kazakhstan, but with specific conditions. The country's regulatory framework, particularly the Law on Digital Assets enacted in April 2023, permits the issuance and circulation of digital assets under a structured legal regime. 

The use of stablecoins like USDT is restricted to operations within the Astana International Financial Centre (AIFC), a special economic zone with its own regulatory environment. Traders can lawfully purchase and trade USDT through authorized Kazakh cryptocurrency exchanges that adhere to national anti-money laundering (AML) and know-your-customer (KYC) standards.

How to Buy Tether (USDT) in Kazakhstan

Kazakh investors can buy Tether through Bybit, a cryptocurrency exchange authorized by the Astana Financial Services Authority (AFSA) under license number AFSA-G-LA-2023-0004. Bybit provides deep liquidity for trading pairs involving Kazakhstani tenge (KZT) and USDT.

KZT deposits can be made through local bank transfers, credit or debit cards, Apple Pay, Google Pay, and secure peer-to-peer (P2P) transactions.

Follow these simple steps to purchase USDT via Bybit in Kazakhstan:

1. Create a Bybit Account: Visit the official Bybit website, register a new account, and select either an individual or corporate profile.
2. Complete Identity Verification: Fulfill mandatory KYC requirements by uploading clear images of your Kazakh passport or national ID along with requested personal information.
3. Deposit KZT: Once logged into your Bybit account, click on the "Deposit" option, select Kazakhstani tenge (KZT), and transfer funds.
4. Buy USDT: Access the KZT-USDT trading pair, input your desired amount of Tether, double-check all transaction details, and confirm your purchase.

Best Exchanges to Buy USDT in Kazakhstan

Investors in Kazakhstan have access to several crypto exchanges for buying USDT with Kazakhstani tenge (KZT). Popular platforms include Binance, OKX, Bybit, and Gate.io, favored for their competitive fees, strong security measures, and efficient KZT deposit processes.

The following comparison table outlines the essential features to assist Kazakh investors in selecting the ideal exchange:

KZT to USDT Fees

For investors in Kazakhstan looking to exchange Kazakhstani tenge (KZT) for Tether (USDT), understanding the fees associated with using an exchange is essential. Here's a breakdown of common fees:​

• Deposits: Funding your account through bank transfers (such as Halyk Bank or Kaspi Bank) is generally free. Credit or debit card deposits may incur minimal processing fees from the payment provider between 1% and 3%.
• Withdrawals: Withdrawing KZT back to local bank accounts often involves minimal or zero fees on major exchanges.
• Trading Fees: Leading crypto exchanges, including Bybit and Binance, typically charge trading fees close to 0.1%. Some platforms offer distinct maker-taker structures, varying from about 0.08% to 0.5% per transaction.

For optimal savings, fund your account using affordable methods like direct bank transfers and choose trading platforms offering transparent, low-cost fees and strong liquidity.

Tax Considerations for Tether (USDT) in Kazakhstan

In Kazakhstan, purchasing and holding Tether (USDT) doesn't create any tax obligations. Taxes become applicable only when investors realize profits from selling or trading USDT. Under Kazakh law, gains from cryptocurrency transactions are treated as taxable income at the standard individual income tax rate of 10%.

Kazakhstan’s State Revenue Committee closely monitors cryptocurrency activities to ensure compliance. Investors must keep detailed records of all transactions, including conversions between USDT and Kazakhstani tenge (KZT), trading dates, and associated profits or losses.

What is Tether (USDT)?

Tether (USDT) is a stablecoin designed to maintain a 1:1 peg with the U.S. dollar, offering a digital alternative that combines the stability of fiat currency with the flexibility of blockchain technology. Issued by Tether Limited since 2014, USDT operates across multiple blockchains, including Ethereum, Tron, and Solana. 

Its stability makes it especially valuable in Kazakhstan, where investors utilize it to safeguard their savings against local currency volatility, facilitate international remittances, and streamline cryptocurrency trading.

Final Thoughts

​For Kazakh investors, acquiring Tether (USDT) through licensed exchanges like Bybit offers a secure method to engage with digital assets. 

By adhering to national regulations within the Astana International Financial Centre (AIFC) and choosing platforms that support local currency transactions, investors can efficiently manage their crypto portfolios.