diff --git a/moto/kms/models.py b/moto/kms/models.py
index cceb96342..1015aa72a 100644
--- a/moto/kms/models.py
+++ b/moto/kms/models.py
@@ -15,7 +15,7 @@ from .utils import decrypt, encrypt, generate_key_id, generate_master_key
 
 
 class Key(BaseModel):
-    def __init__(self, policy, key_usage, description, tags, region):
+    def __init__(self, policy, key_usage, customer_master_key_spec, description, tags, region):
         self.id = generate_key_id()
         self.policy = policy
         self.key_usage = key_usage
@@ -30,9 +30,7 @@ class Key(BaseModel):
         self.key_material = generate_master_key()
         self.origin = "AWS_KMS"
         self.key_manager = "CUSTOMER"
-        self.customer_master_key_spec = "SYMMETRIC_DEFAULT"
-        self.encryption_algorithms = ["SYMMETRIC_DEFAULT"]
-        self.signing_algorithms = None
+        self.customer_master_key_spec = customer_master_key_spec or "SYMMETRIC_DEFAULT"
 
     @property
     def physical_resource_id(self):
@@ -44,6 +42,38 @@ class Key(BaseModel):
             self.region, self.account_id, self.id
         )
 
+    @property
+    def encryption_algorithms(self):
+        if self.key_usage == "SIGN_VERIFY":
+            return None
+        elif self.customer_master_key_spec == "SYMMETRIC_DEFAULT":
+            return ["SYMMETRIC_DEFAULT"]
+        else:
+            return [
+                "RSAES_OAEP_SHA_1",
+                "RSAES_OAEP_SHA_256"
+            ]
+
+    @property
+    def signing_algorithms(self):
+        if self.key_usage == "ENCRYPT_DECRYPT":
+            return None
+        elif self.customer_master_key_spec in ["ECC_NIST_P256", "ECC_SECG_P256K1"]:
+            return ["ECDSA_SHA_256"]
+        elif self.customer_master_key_spec == "ECC_NIST_P384":
+            return ["ECDSA_SHA_384"]
+        elif self.customer_master_key_spec == "ECC_NIST_P521":
+            return ["ECDSA_SHA_512"]
+        else:
+            return [
+                "RSASSA_PKCS1_V1_5_SHA_256",
+                "RSASSA_PKCS1_V1_5_SHA_384",
+                "RSASSA_PKCS1_V1_5_SHA_512",
+                "RSASSA_PSS_SHA_256",
+                "RSASSA_PSS_SHA_384",
+                "RSASSA_PSS_SHA_512"
+            ]
+
     def to_dict(self):
         key_dict = {
             "KeyMetadata": {
@@ -81,6 +111,7 @@ class Key(BaseModel):
         key = kms_backend.create_key(
             policy=properties["KeyPolicy"],
             key_usage="ENCRYPT_DECRYPT",
+            customer_master_key_spec="SYMMETRIC_DEFAULT",
             description=properties["Description"],
             tags=properties.get("Tags"),
             region=region_name,
@@ -102,8 +133,8 @@ class KmsBackend(BaseBackend):
         self.keys = {}
         self.key_to_aliases = defaultdict(set)
 
-    def create_key(self, policy, key_usage, description, tags, region):
-        key = Key(policy, key_usage, description, tags, region)
+    def create_key(self, policy, key_usage, customer_master_key_spec, description, tags, region):
+        key = Key(policy, key_usage, customer_master_key_spec, description, tags, region)
         self.keys[key.id] = key
         return key
 
diff --git a/moto/kms/responses.py b/moto/kms/responses.py
index d3a9726e1..15b990bbb 100644
--- a/moto/kms/responses.py
+++ b/moto/kms/responses.py
@@ -118,11 +118,12 @@ class KmsResponse(BaseResponse):
         """https://docs.aws.amazon.com/kms/latest/APIReference/API_CreateKey.html"""
         policy = self.parameters.get("Policy")
         key_usage = self.parameters.get("KeyUsage")
+        customer_master_key_spec = self.parameters.get("CustomerMasterKeySpec")
         description = self.parameters.get("Description")
         tags = self.parameters.get("Tags")
 
         key = self.kms_backend.create_key(
-            policy, key_usage, description, tags, self.region
+            policy, key_usage, customer_master_key_spec, description, tags, self.region
         )
         return json.dumps(key.to_dict())
 
diff --git a/tests/test_kms/test_kms.py b/tests/test_kms/test_kms.py
index 8c2843ee4..c5a49b974 100644
--- a/tests/test_kms/test_kms.py
+++ b/tests/test_kms/test_kms.py
@@ -64,6 +64,53 @@ def test_create_key():
         key["KeyMetadata"]["Origin"].should.equal("AWS_KMS")
         key["KeyMetadata"].should_not.have.key("SigningAlgorithms")
 
+        key = conn.create_key(
+            KeyUsage = "ENCRYPT_DECRYPT",
+            CustomerMasterKeySpec = 'RSA_2048',
+        )
+
+        sorted(key["KeyMetadata"]["EncryptionAlgorithms"]).should.equal(["RSAES_OAEP_SHA_1", "RSAES_OAEP_SHA_256"])
+        key["KeyMetadata"].should_not.have.key("SigningAlgorithms")
+
+        key = conn.create_key(
+            KeyUsage = "SIGN_VERIFY",
+            CustomerMasterKeySpec = 'RSA_2048',
+        )
+
+        key["KeyMetadata"].should_not.have.key("EncryptionAlgorithms")
+        sorted(key["KeyMetadata"]["SigningAlgorithms"]).should.equal([
+            "RSASSA_PKCS1_V1_5_SHA_256",
+            "RSASSA_PKCS1_V1_5_SHA_384",
+            "RSASSA_PKCS1_V1_5_SHA_512",
+            "RSASSA_PSS_SHA_256",
+            "RSASSA_PSS_SHA_384",
+            "RSASSA_PSS_SHA_512"
+        ])
+
+        key = conn.create_key(
+            KeyUsage = "SIGN_VERIFY",
+            CustomerMasterKeySpec = 'ECC_SECG_P256K1',
+        )
+
+        key["KeyMetadata"].should_not.have.key("EncryptionAlgorithms")
+        key["KeyMetadata"]["SigningAlgorithms"].should.equal(["ECDSA_SHA_256"])
+
+        key = conn.create_key(
+            KeyUsage = "SIGN_VERIFY",
+            CustomerMasterKeySpec = 'ECC_NIST_P384',
+        )
+
+        key["KeyMetadata"].should_not.have.key("EncryptionAlgorithms")
+        key["KeyMetadata"]["SigningAlgorithms"].should.equal(["ECDSA_SHA_384"])
+
+        key = conn.create_key(
+            KeyUsage = "SIGN_VERIFY",
+            CustomerMasterKeySpec = 'ECC_NIST_P521',
+        )
+
+        key["KeyMetadata"].should_not.have.key("EncryptionAlgorithms")
+        key["KeyMetadata"]["SigningAlgorithms"].should.equal(["ECDSA_SHA_512"])
+
 
 @mock_kms_deprecated
 def test_describe_key():
diff --git a/tests/test_kms/test_utils.py b/tests/test_kms/test_utils.py
index f5478e0ef..4c84ed127 100644
--- a/tests/test_kms/test_utils.py
+++ b/tests/test_kms/test_utils.py
@@ -102,7 +102,7 @@ def test_deserialize_ciphertext_blob(raw, serialized):
 @parameterized(((ec[0],) for ec in ENCRYPTION_CONTEXT_VECTORS))
 def test_encrypt_decrypt_cycle(encryption_context):
     plaintext = b"some secret plaintext"
-    master_key = Key("nop", "nop", "nop", [], "nop")
+    master_key = Key("nop", "nop", "nop", "nop", [], "nop")
     master_key_map = {master_key.id: master_key}
 
     ciphertext_blob = encrypt(
@@ -133,7 +133,7 @@ def test_encrypt_unknown_key_id():
 
 
 def test_decrypt_invalid_ciphertext_format():
-    master_key = Key("nop", "nop", "nop", [], "nop")
+    master_key = Key("nop", "nop", "nop", "nop", [], "nop")
     master_key_map = {master_key.id: master_key}
 
     with assert_raises(InvalidCiphertextException):
@@ -153,7 +153,7 @@ def test_decrypt_unknwown_key_id():
 
 
 def test_decrypt_invalid_ciphertext():
-    master_key = Key("nop", "nop", "nop", [], "nop")
+    master_key = Key("nop", "nop", "nop", "nop", [], "nop")
     master_key_map = {master_key.id: master_key}
     ciphertext_blob = (
         master_key.id.encode("utf-8") + b"123456789012"
@@ -171,7 +171,7 @@ def test_decrypt_invalid_ciphertext():
 
 def test_decrypt_invalid_encryption_context():
     plaintext = b"some secret plaintext"
-    master_key = Key("nop", "nop", "nop", [], "nop")
+    master_key = Key("nop", "nop", "nop", "nop", [], "nop")
     master_key_map = {master_key.id: master_key}
 
     ciphertext_blob = encrypt(