Посты с тэгом: AFSA

The Astana International Financial Centre (AIFC) has been recognised by the International Organization of Securities Commissions (IOSCO) among the world’s leading jurisdictions in implementing global standards for regulating crypto and digital asset markets.

The recognition comes as part of the IOSCO Thematic Review “Assessing the Implementation of IOSCO Recommendations for Crypto and Digital Asset Markets”, published in October 2025. Out of more than 130 IOSCO member jurisdictions, only 20 were selected for this global assessment – representing the most developed frameworks for investor protection, market integrity, and responsible innovation.

“The AIFC has been recognised among the four leading jurisdictions in the world successfully implementing IOSCO recommendations in the regulation of digital assets. We will continue to consistently develop this area. Our key goal is to ensure the most comfortable, transparent, and secure environment for all users of digital assets,” said AIFC Governor Renat Bekturov.

The AIFC was identified among those demonstrating the highest level of progress, with all ten priority IOSCO recommendations fully implemented and in force as of 31 July 2025. This places Kazakhstan among the top jurisdictions globally for establishing transparent and secure regulation of digital assets.

The IOSCO report contains over 30 positive references to the AIFC’s digital asset regulatory framework, including five examples where it is cited as a best practice in implementing international recommendations.

Highlights of AIFC achievements

• belongs to ten jurisdictions that have established strong governance standards for crypto-asset service providers (CASPs)[1];
• is among eleven jurisdictions ensuring full transparency and disclosure of roles and trading conflicts by CASPs;
• is part of twelve jurisdictions that have introduced comprehensive measures to combat fraud, market abuse, and insider trading;
• is one of nineteen jurisdictions maintaining extensive international cooperation, including over 60 MoUs with global regulators and IOSCO membership frameworks;
• is among a few jurisdictions that fully implemented all custody-related recommendations, including daily reconciliation of client assets and annual independent audits of stablecoin reserves;
• is one of eight jurisdictions with full implementation of retail client protection, requiring CASPs to assess client suitability and handle complaints transparently.

Through its regulatory sandbox (FinTech Lab) comprehensive and forward-looking regulatory regime established under the AIFC Acts, the Astana Financial Services Authority (AFSA) has built a balanced environment that encourages financial innovation while ensuring the highest levels of investor protection and operational resilience.

This recognition positions Kazakhstan and AIFC among global leaders in shaping fair, robust, transparent, and innovation-driven digital asset ecosystem, reinforcing the country’s role as a trusted regulatory hub within the Eurasian region.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,500 firms from more than 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

[1] CASP is defined in the IOSCO Policy Recommendations for Crypto and Digital Asset Markets Final Report as “service providers that conduct a wide range of activities relating to crypto-assets, including but not limited to, admission to trading, trading (as agent or principal), operating a market, custody, and other activities such as services relating to lending/staking of crypto-assets and the promotion, marketing and distribution of crypto-assets on behalf of others

The Astana Financial Services Authority (AFSA) has granted a Licence for the full supervisory regime to ATAIX Eurasia Ltd (Ataix).

This follows Ataix’s participation in the AIFC’s regulatory sandbox, designed to foster innovation in financial services. Notably, Ataix was among the first participants of the Pilot Project for cooperation between crypto exchanges and second-tier banks of Kazakhstan.

With this Licence, Ataix transitions from the sandbox regime to operating under the comprehensive AIFC regulatory framework for Digital Asset Service Providers. The framework aims to promote innovation, ensure market integrity, and safeguard client interests.

Ataix currently serves a growing client base across Kazakhstan and the region, offering access to a range of digital asset products and services through its platform. Under the full authorisation and supervisory regime, Ataix is authorised to carry on the following Regulated Activities:

• Operating a Digital Asset Trading Facility;
• Dealing in Investments as Principal;
• Dealing in Investments as Agent;
• Providing Custody.

Importantly, operating under the full regulatory regime allows Ataix to admit digital assets to trading on its own platforms (excluding non-AIFC-issued stablecoins) without prior approval from AFSA (in accordance with its own Admission of Digital Assets for trading Rules developed pursuant to the requirements of the AIFC Acts). This framework streamlines operations and enhances the Ataix’s responsiveness to market developments.

This achievement represents an important step forward for the digital asset ecosystem in Kazakhstan and the AIFC, reflecting the steady development and growing maturity of the local digital asset sector.

Information about Digital Asset Service Providers registered and licensed by AFSA is available at the following links:

• AIFC’s Regulatory Sandbox
• AFSA full regulatory regime

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,500 firms from over 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) announces the adoption of its revised Enforcement Policy, replacing the version that has been in effect since 13 October 2019.

The updated Policy is now officially in effect and reflects the ongoing developments in regulatory practice, alignment with international best standards, and AFSA’s commitment to providing clear and transparent guidance on the use of its enforcement powers.

Key enhancements introduced include:

• improved clarity of processes in the conduct of investigations;
• refinements to the approach in determining sanctions and financial penalties;
• new provisions on restitution and actions for damages;
• strengthened consistency with AFSA’s statutory powers.

AFSA encourages all market participants to review the revised Policy to support informed and responsible business conduct.  Greater awareness of the updated approach will help any Person carrying on activities in or from the AIFC align more effectively with regulatory expectations, enhance operational practices, and contribute to a well-functioning AIFC ecosystem.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,400 firms from 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) is pleased to announce a milestone in its pilot project – the successful receipt of the first regulatory fee payment in stablecoins pegged to USD. The project enables Astana International Financial Centre (AIFC) Participants, as well as applicants seeking authorisation or registration in the AIFC, to pay regulatory fees using USD pegged stablecoins.

SkyBridge Digital Finance Ltd., a licensed Digital Asset Service Provider and FinTech Lab Participant in the AIFC paid the first regulatory fees to AFSA in stablecoins under this initiative.

The pilot project, officially launched during Astana Finance Days 2025, introduced an innovative payment framework designed to expand the range of settlement options for AIFC market participants. The pilot represents the first regulatory mechanism of its kind in the region, demonstrating Kazakhstan’s ambition to position the AIFC as a hub for digital finance and innovation while aligning with global trends in stablecoin adoption.

Bybit Limited, the first signatory to the Multilateral Memorandum of Understanding (MMoU) with AFSA, facilitated the first stablecoin payment through its role as a Provider.

From now on, AIFC Participants and applicants applying for authorisation or registration within the AIFC will be able to pay regulatory fees to AFSA in stablecoins through verified providers. The list of Providers will be published on the AFSA website.

Under the framework, Digital Asset Service Providers licensed by AFSA to operate a Digital Asset Trading Facility or provide Money Services in relation to Digital Assets may join the project as Providers. In this role, they act on behalf of Payers to process stablecoin payments and transfer the equivalent fiat currency to AFSA’s designated bank account. Companies interested in participating as a Provider may contact AFSA via e-mail at [email protected].

Evgeniya Bogdanova, Chief Executive Officer of AFSA, said:
“The acceptance of our first fee in stablecoins marks a significant milestone toward a future-oriented financial ecosystem. It highlights AFSA’s commitment to driving innovation and establishing secure, transparent, and adaptive regulatory frameworks that evolve with the pace of global financial transformation.”

Bybit Kazakhstan is honored to collaborate with the Astana Financial Services Authority (AFSA) in enabling the first successful regulatory fee payment through our secure digital asset infrastructure. The inaugural payment, made by SkyBridge Digital Finance Ltd., marks a significant milestone that underscores AFSA’s progressive vision and our shared commitment to fostering compliant, transparent, and innovative payment solutions that strengthen Kazakhstan’s financial ecosystem,” said Ablaikhan Aubakir, Country Manager at Bybit Kazakhstan

“Our team is proud to participate in a milestone that marks the next step in the evolution of global finance. The first regulatory fee paid in USDT sets a precedent comparable in scale to the first payment made with a magnetic stripe card. This achievement strengthens financial inclusivity and opens access to banking for the unbanked,” said Yessengeldy Rakhimbekov, CEO of SkyBridge Digital Finance Ltd.

The stablecoin sector continues to play an increasingly important role in global finance. According to CoinMarketCap Data[1], as of September 2025, the total market capitalisation of stablecoins reached an all-time high of $307.6 billion, with fiat-backed stablecoins accounting for the majority of trading activity.

Important:

This initiative applies only to regulatory fees payable by AIFC Participants and applicants for authorisation and registration in the AIFC and does not include taxes or other government payments in the Republic of Kazakhstan. Kazakhstan’s Tenge (KZT) is the sole legal tender in the Republic of Kazakhstan.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,400 firms from more than 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

[1] Top Stablecoin Tokens by Market Capitalization | CoinMarketCap

The Astana Financial Services Authority (AFSA) has opened a consultation on proposed updates to its regulatory fee framework within the Astana International Financial Centre (AIFC).

The planned changes are designed to ensure the framework remains proportionate, transparent, and aligned with the sustainable growth of the AIFC. They include an overall adjustment of fixed fees and the introduction of new variable components for certain activities, reflecting the growing scale and complexity of financial markets.

These adjustments are necessary for AFSA to continue sustaining its high-quality regulatory oversight as well as to advance new approaches, including new financial technologies and SupTech[1] for further safeguarding market integrity.

Since the fee framework was last updated in 2017, AFSA’s supervisory responsibilities have grown significantly. Today, the AIFC is home to more than 4,400 participants from over 85 countries. In the first half of 2025 alone, assets under AFSA’s supervision reached USD 1.85 billion.

“AIFC has evolved into a sophisticated financial ecosystem. To protect consumers, address emerging risks such as cyber resilience and financial crime, and maintain high standards of supervision, it is vital that our funding model keeps pace with market realities. This consultation gives stakeholders the opportunity to help shape a fair and transparent framework for the future,” said AFSA Chief Executive Officer, Evgeniya Bogdanova.

AFSA encourages all stakeholders to review the Consultation Paper, available here and to submit feedback by 2 November 2025 by e-mailing to [email protected]. All responses will be carefully considered before the final framework is confirmed.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,400 firms from 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

[1] the use of innovative technologies by financial regulators and supervisors to improve how they monitor and oversee financial markets and institutions.

The Financial Monitoring Agency together with the Astana Financial Services Authority (AFSA) have held a Compliance Council meeting focused on strengthening the national anti-money laundering system.

The meeting focused on contemporary approaches to risk management in the context of emerging financial technologies and digital assets, along with measures to further strengthen the supporting infrastructure within the AIFC. Particular emphasis was placed on implementing priority actions to enhance Kazakhstan’s rating under FATF Recommendation 15.

The importance of enhancing internal monitoring mechanisms was emphasised, including improving the quality of customer due diligence procedures and the identification of beneficial owners.

As a result of the discussions, a decision was made to strengthen cooperation between the Agency and AFSA to enhance the resilience of the national financial system and reduce the risk of financial platforms being used for illicit purposes.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,300 firms from 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]

The Astana Financial Services Authority (AFSA) is delighted to invite you to join the Regulatory Townhall meeting to be held on 26 September 2025 at 15:00 Astana time via Zoom.

The discussion will focus on the practical application of the newly introduced Rules and the revised scope of regulated money services under the framework. Particular attention will be given to the provision of Money Services involving Digital Assets.

The townhall will serve as a platform to raise questions directly with AFSA regarding the Rules, as the first phase of their implementation begins on 13 October 2025. All interested stakeholders are encouraged to join and actively participate in the discussions.

Welcoming remarks:

Yerkegali Yedenbayev, Chief Authorisation and FinTech Officer, AFSA

Presenter:

Merdan Altyyev, Senior Associate of the FinTech Division, AFSA

To attend, please register via this link by 12:00 on 26 September 2025. Once you complete your registration, a confirmation email will be sent to you with details on how to join the meeting.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Over 4,300 firms from 85 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA: +7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]