Law of the Republic of Kazakhstan «On digital assets in the Republic of Kazakhstan» (6 February, 2023 № 193-VII)
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Law of the Republic of Kazakhstan
On digital assets in the Republic of Kazakhstan
(6 February, 2023 № 193-VII)
Unofficial translation
Article 1: Basic concepts used in this Law
The following basic concepts are used herein:
1) a secured digital asset is a digital asset registered via a digital storage and exchange platform for secured digital assets, securing rights in tangible, intellectual services and assets other than money and securities;
2) a digital platform for the storage and exchange of secured digital assets - a combination of information and communication technologies based on a distributed data platform, implementing certain information interactions and designated for specific functional objectives, enabling information exchange;
3) unsecured digital asset - a digital asset obtained from an information system as a reward for participating in blockchain consensus maintenance and not expressing anyone's monetary obligations, that can be traded digitally on a digital asset exchange;
4) digital asset - property generated in electronic digital form with assignment of a digital code, including the use of cryptography and computer calculations, registered and secured with immutable data based on a distributed data platform technology;
5) a digital asset exchange is a digital platform providing organisational and technical support for trading, issuing, circulation and safekeeping of digital assets;
6) designated authority for digital assets (hereinafter - designated authority) - the central executive body responsible for governance and cross-sectoral coordination of the digital asset sector;
7) digital miner- an individual entrepreneur or a legal entity of the Republic of Kazakhstan involved in digital mining activities;
8) digital mining is the process of processing computational transactions using computer power following predetermined encryption and data processing algorithms, ensuring that the integrity of blocks of data is confirmed by means of a blockchain;