Посты с тэгом: AFSA

The Astana Financial Services Authority (AFSA) adopted a comprehensive Providing Money Services framework, introducing the AIFC Rules on Providing Money Services alongside consequential amendments to the AIFC General Rules, AIFC Glossary, AIFC Conduct of Business Rules, AIFC Banking Business Prudential Rules, and AIFC Rules on Digital Asset Activities.

Please note that the new Rules will enter into force in two phases:

• On 13 October 2025 for the provisions related to definitions, capital requirements and the use of digital assets in money services;
• On 13 January 2026 for the provisions on Client protection and cyber resilience.

The framework responds to the demands of a growing number of AIFC Participants providing money services as a primary activity — currently, ten authorised Money Service Providers (MSPs). It is designed to ensure a safe and secure environment for consumers while enabling the development of a competitive and innovative financial market. The new framework consolidates existing requirements into a single, clear and consistent rulebook, streamlining the regulation of money services.

A key feature of the framework is that it broadens the regulatory scope. The revised list of regulated money services now encompasses arranging currency exchange[1], providing or operating payment accounts[2], acquiring payment transactions[3], payment initiation services[4], and account information services[5]. The framework also clarifies which activities fall outside the regulatory perimeter. These include technical support services like cloud infrastructure and identity verification tools, transactions between digital asset service providers (DASPs), including foreign DASPs, for liquidity purposes, and user-initiated transfers of digital assets between their own accounts, among others.

The framework also provides clarity on the perimeter of AFSA regulation. Once in effect, AFSA will regulate payment transactions using digital assets that function like traditional money services — such as digital asset remittances and acquiring. It will also cover non-custodial service providers with business models similar to payment initiation services, like MetaMask[6] or Trust Wallet[7].

To reflect the growing use of digital assets, the framework introduces two ways MSPs can operate:

• Bridge model: the MSP handles digital assets in its own name—it sends, receives, or holds assets on behalf of clients but under the provider’s control.
• Direct model: The MSP acts like an intermediary — helping clients send or receive digital assets directly between Clients’ own wallets to or from wallets of MSP.

To strengthen consumer confidence, the framework introduces enhanced Client protection measures, including mandatory disclosures in Client agreements, refund provisions, liability for unauthorised transactions, and clear rules on the rights of recourse.

_

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 4000 firms from over 84 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://afsa.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] Arranging currency exchange refers to facilitating currency exchange services for clients by connecting them with firms authorised to provide such services under the AIFC Rules on Currency Regulation and Provision of Information.

[2] Providing or operating a payment account involves opening, closing, and managing accounts that enable clients to hold funds and perform payment operations—such as transfers, deposits, and withdrawals—offered by firms authorised under the AIFC rules.

[3] Acquiring payment transactions refers to facilitating payments on behalf of merchants, enabling them to accept methods such as credit or debit cards from customers (e.g. for online purchases).

[4] Payment initiation services are online services—typically offered by fintech firms—that allow customers to initiate payments directly from their accounts held with other financial service providers (e.g., banks), often providing a more user-friendly and convenient experience.

[5] Account information services provide aggregation of financial data—such as account balances and transaction history—from multiple financial service providers (e.g., banks).

[6] MetaMask is a non-custodial digital wallet that allows users to store cryptocurrencies and interact directly with blockchain-based applications. It enables users to initiate transactions from their own accounts without relying on third-party intermediaries.

[7] Trust Wallet is a non-custodial mobile wallet that enables users to store, manage, and transfer a wide range of cryptocurrencies. It also allows direct access to decentralized applications (dApps) and supports transaction initiation without third-party intermediaries.

The Astana Financial Services Authority (AFSA) has released three Consultation Papers inviting market participants to comment on the proposed regulatory amendments aimed at enhancing the effectiveness, proportionality and international alignment of the AIFC regulatory framework. The proposals focus on three key areas: Capital Markets, Digital Assets, and Crowdfunding.

The Consultation Paper on Amendments to the Capital Markets Framework focuses on securities offerings, governance of reporting entities, and disclosure requirements.

Key proposals include:

• Streamlining disclosure and approval processes;
• Applying corporate governance requirements solely to issuers of equity securities and disapplying them for the issuers of debentures;
• Expanding Membership Eligibility of an Authorised Market Institution;
• Aligning Client classification with the broader AIFC framework;
• Raising the cap for the maximum amount of fungible securities[1] to be traded or offered on an Authorised Investment Exchange without requiring a Prospectus;
• Increasing the threshold that determines whether an individual or entity is considered a Related Party[2].

The full paper is available here: Consultation Paper on the amendments to the AIFC Capital Market Framework.

The Consultation Paper on Amendments to the Digital Assets Framework underscores AFSA’s commitment to maintain a proportionate and innovation-friendly regulatory environment.

The proposed changes have been informed by supervisory experience, international best practices, and engagement with market participants.

Key proposals include:

• Amending the regulatory treatment of Digital Asset Service Providers (DASPs) whose business models do not involve holding or controlling Digital Assets, or using distributed ledger technology by exempting them from certain obligations;
• Revising capital requirements for Digital Asset Trading Facility (DATF) Operators;
• Expanding eligibility for DATF membership;
• Revising the notification process for admitting Digital Assets to trading.

The full paper is available here: Consultation Paper on the amendments to the AIFC Digital Assets framework.

 The Consultation Paper on Amendments to the Crowdfunding Platforms Framework aims to address key regulatory and operational issues, balancing innovation with investor protection and market integrity.

Key proposals include:

• Strengthening client protection through expanded disclosure requirements, more comprehensive borrower and issuer eligibility requirements, new investment limit for retail clients, restriction on funding for borrowers with payment issues, along with enhanced risk warnings;
• Harmonising client classification to standardised “Retail Client” and “Professional Client” categories;
• Permitting sole proprietors to use crowdfunding services as borrowers and issuers, with AFSA approval;
• Removing the “Providing Private Financing Platform” licence from the regulatory framework.

The full paper is available here: Consultation Paper on the amendments to the AIFC Crowdfunding Platforms Framework.

AFSA invites feedback from all stakeholders. Please submit your comments on the proposed amendments by 15 September 2025 via email to [email protected]. We will review all responses and consider any necessary adjustments to the proposals.

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 4,000 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] Securities which are interchangeable with others of the same series or class (as per the definition by Thomson Reuters (https://shorturl.at/jDrXt)

[2] A Related Party refers to any individual or entity that has a close relationship with a company, including senior management, major shareholders, close family members, or others with significant influence or control. This definition is provided for broader understanding. For an exact AIFC term please refer to the AIFC Glossary.

The Astana Financial Services Authority (AFSA) has joined IOSCO[1]’s International Securities and Commodities Alerts Network (I-SCAN), a global cooperation platform for securities regulators to exchange information and coordinate efforts to combat online investment fraud and illegal financial activity. Joining I-SCAN provides AFSA with the opportunity to publish its fraud warnings in IOSCO’s global alert system.

The I-SCAN platform was established by IOSCO to address the growing risks associated with the rapid digitalisation of financial markets. As retail investors increasingly engage in capital markets via mobile applications, social media and online platforms, the prevalence and sophistication of fraudulent schemes are also rising. I-SCAN enables regulators to identify, flag and remove illegal investment offers more effectively, thereby strengthening investor protection and fostering greater trust in financial markets.

“AFSA’s participation in I-SCAN is an important step towards enhancing the security and transparency of the financial environment. By working alongside the international regulatory community and local authorities, we are reinforcing efforts to protect investors from fraud and raise awareness of unauthorised schemes and deceptive practices. Our priority is to maintain market stability and promote confidence in the financial system through timely alerts, increased transparency, and coordinated cross-border actions,” said Evgeniya Bogdanova, Chief Executive Officer of AFSA.

The I-SCAN initiative promotes strict oversight of investment products advertised online, close cooperation among regulators, and proactive removal of fraudulent content across digital platforms.

AFSA encourages local online platforms in the Republic of Kazakhstan to explore opportunities to engage with the I-SCAN framework. Cooperation between platforms and supervisory authorities supports the timely identification and prevention of misconduct. In line with IOSCO’s position, effective measures against online scams require effective internal controls, compliance with national regulations and prompt information sharing with regulators.

Joining I-SCAN will further enhance AFSA’s supervisory capabilities in the area of digital financial services and strengthen AIFC’s standing as a jurisdiction aligned with international standards.

AFSA is actively working to help investors reduce risks. Here are some key steps you can take to protect yourself:

1. Beware of unauthorised financial firms. All financial services firms in the AIFC must be authorised by AFSA. If they’re not, it may be a scam. Check our official Public Register to confirm if a firm or individual is authorised, and always access the Register directly through this official website aifc.kz – never through email links or third-party websites.
2. Know your rights. Be cautious when using online financial services. Share details only with verified providers. Read the terms of any offer carefully and know how your data will be used. Regularly review your bank statements for unusual activity. Only authorised firms can offer financial services and must clearly explain products, assess suitability, and provide key information, written agreements, and regular updates.
3. Make informed decisions when dealing with digital assets. This is a higher-risk sector. Transactions are often irreversible, making losses hard to recover if you deal with unverified providers. In Kazakhstan, trading digital assets is only permitted on crypto exchanges licensed by AFSA.
4. Stay vigilant. If you suspect you have been contacted by an unauthorised firm or individual offering AFSA-regulated services, report it to us using this form.
5. Use multiple sources for verification. Always cross-check a firm’s legitimacy through trusted sources. Tools like I-SCAN offer international data to help you identify unauthorised activities and red flags before investing.

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 4,000 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] IOSCO (International Organization of Securities Commissions) is the international body that brings together securities regulators from over 100 jurisdictions with the aim of coordinating efforts to uphold the integrity, efficiency, and transparency of global financial markets.

AFSA has become part of a global roadmap to retail investor online safety unveiled by the International Organization of Securities Commissions (IOSCO)[1] to combat online harm, fraud and misseling that have emerged because of changing market trends and made retail clients particularly vulnerable to risks.

Retail investors are increasingly participating in capital markets, a trend accelerated by digitalisation including the use of mobile apps, social media and online platforms to promote and purchase financial products and services.

“While greater accessibility through digitalisation has expanded the capital base, increased competition and reduced costs, it has also created new risks. Retail investors are losing significant amounts of money to investment fraud, which is now often orchestrated through online paid-for advertisements and user-generated content,” said AFSA Chief Executive Officer Evgeniya Bogdanova.

The IOSCO roadmap campaign has been going on since November 2024 and ends this year. Its outcomes are the development of investor education programmes by IOSCO and culminating in the World Investor Week 2025.

The three-pronged roadmap includes:

• Regulation, through the development of new standards to manage emerging trends;
• Education, by raising awareness of investors, and,
• Collaboration, both between securities regulators and with social media and other internet services providers.

A critical component of the roadmap is empowering investors with the information they need to recognise and avoid risks associated with certain financial products and services offered to them online, with education from ground up being key in this programme.

IOSCO’s focus is on exploring the role of finfluencers[2], the emergence of imitative trading[3] practices online, and digital engagement practices employed by market intermediaries, highlighting both their potential benefits and associated risks.

IOSCO’s final reports on each of these areas provide, among others, an overview of regulatory practices and relevant tips for retail investors to better protect themselves from risks.

By joining this roadmap in the coming months AFSA will release relevant investor protection tips on its social media to break down certain myths that might trap retail investors into potential fraud.

Follow us on LinkedIn and Instagram to keep yourselves informed on our latest content.

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 4,000 firms from 84 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 International Organization of Securities Commissions (IOSCO) is the leading international body that brings together securities market regulators from around the world.

[2] Finfluencers (from the English “financial influencers”) are individuals, bloggers, or content creators who publish information, advice, or personal opinions on finance, investments, cryptocurrencies, the stock market, and other financial topics on social media and online platforms.

[3] Imitative trading (also known as copy trading or mirror trading) is a form of investing in which individual investors replicate the trading decisions of other, more experienced or popular market participants.

The Astana Financial Services Authority (AFSA) has granted its first license for fiat-backed stablecoin[1] issuance, authorising AnchorX.KZ Limited to carry on the Regulated Activity of Providing Money Services in relation to Digital Assets as the Issuer of a Fiat Stablecoin.

The regulatory approval, granted under AFSA’s comprehensive Stablecoin Framework, marks a significant milestone for digital assets ecosystem in Kazakhstan. It underscores AFSA’s and AIFC’s commitment to fostering innovation through a clear and robust regulatory approach, while empowering trusted institutions to explore new frontiers in compliant digital asset services.

The initiative is part of a broader effort to enhance financial innovation and infrastructure in the region. AnchorX aims to support future cross-border financial solutions that align with Kazakhstan’s growing economic ties, particularly with China, where bilateral trade reached $43.8 billion in 2024 .

AFSA introduced its Stablecoin Framework in January 2024, which allows fiat-backed stablecoins pegged 1:1 to currencies[2] that are recognised under the framework—like US Dollar, Euro, RMB, Norwegian Krone, and others.

Speaking at the “AIFC CONNECT: HONG KONG” conference, AnchorX CEO Hill Wang highlighted the strategic importance of regulatory clarity in driving innovation within the digital asset sector. “We are honored and excited to embark on this journey within the forward-looking regulatory framework established by AFSA,” Wang stated.

Regulatory Disclaimer: This content is not intended as financial or investment advice. Always consult with a qualified professional before making investment decisions.

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.

Around 4,000 firms from 84 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] Stablecoin is a crypto asset that aims to maintain a stable value against a specific asset, pool or basket of assets. Stablecoins maintain value stability in a highly volatile crypto market.

[2] Fiat-backed stablecoins are digital coins tied 1:1 to real currencies (e.g., USD), keeping their value stable by being backed with actual money.

Dodo Brands, the parent company of Dodo Pizza — the largest pizza chain in Russia and Kazakhstan — and Drinkit, a fast-growing digital coffee shop concept, has completed the process of redomiciliation^[1] from the British Virgin Islands to the Astana International Financial Centre (AIFC). The redomiciliation allows the company to change its legal jurisdiction while maintaining its legal entity status, corporate structure, and all existing obligations.

The process was finalized in June 12, 2025 and is the result of close cooperation between Dodo Brands and the AIFC. With this move, Dodo Brands joins a growing number of international companies that have selected the AIFC as their new jurisdiction. To date, 14 international holding companies have redomiciled to the AIFC, including Fix Price Group Ltd., Solidcore Resources Plc (former – Polymetal International Plc), Cheltenham Group Limited, and Specta Group Ltd.

Dodo Brands ranks among the top 7 largest foodservice companies in Europe, operating more than 1,300 pizza restaurants and cafés across 26 countries in the Middle East, Europe, Africa, and Southeast Asia. As of June 2025, Kazakhstan is home to over 100 Dodo Pizza locations and 14 Drinkit cafés. In Central Asia, the company has also opened 33 Dodo Pizza locations in Uzbekistan, Kyrgyzstan, and Tajikistan.

In 2024, Dodo Brands crossed $1 billion in system-wide sales, while total headcount across the network reached 43,000.The company’s expansion is driven by a franchise-first model — 95% of its stores are operated by local franchise partners.

A recognized leader in restaurant digitalization, Dodo Brands runs its entire network on Dodo IS, a proprietary cloud-based platform that integrates every function of the business — from point-of-sale systems and logistics to CRM^[2] and real-time analytics. All stores are connected to a single digital ecosystem, ensuring scalability, transparency, and operational consistency for partners and investors.

Renat Bekturov, Governor of the AIFC, noted: “The redomiciliation of Dodo Brands to the AIFC highlights the attractiveness of our jurisdiction to high-tech and fast-growing global companies. Our strong compliance standards and flexible regulatory environment create a favourable foundation for digital economy leaders like Dodo. We are confident that the company’s presence in the AIFC will not only strengthen our ecosystem but also help attract greater investor attention to Kazakhstan and Central Asia as a whole.”

 “It was important for us to choose a jurisdiction where the company has an established  operational presence. The AIFC was a logical choice for redomiciliation: Kazakhstan is home to Dodo Brands’ corporate office, and a significant part of our international business is conducted there. In addition, the AIFC offers a well-developed legal and business infrastructure aligned with international standards, making it an even more attractive base for scaling our operations,” said Dmitry Soloviev, CEO of Dodo Brands.

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 3,900 firms from over 80 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 a leading financial hub in the Eastern Europe and Central Asia region, designed to connect global capital with the vast opportunities of emerging markets. Positioned at the crossroads of Europe and Asia, the AIFC combines international best practices with innovative approaches to create a world-class platform for investment, business, and financial services. Since its establishment in 2018, the AIFC has attracted over USD 14.8 bln in investments into Kazakhstan’s economy. www.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] redomiciliation is the “relocation” of a legal entity from one jurisdiction to another, in accordance with the applicable laws of both jurisdictions, while retaining the status of a legal entity and not terminating its activities.

^[2] Customer Relationship Management System

The Astana International Financial Centre co-hosted two panel sessions at the Astana International Forum, held in Kazakhstan’s capital on 29-30 May. The discussions centred on digital assets and sustainable development finance, convening representatives from government agencies, international organisations, and the private sector to examine the key trends influencing the financial landscape. 

Renat Bekturov, Governor of the Astana International Financial Centre, said: “The Astana International Forum has firmly established itself as a high-level platform where heads of state and government, international experts, and business leaders convene to discuss global challenges and prospects for development across politics, economics, and finance. Within the forum, the AIFC organised sessions focused on critical contemporary financial topics – digital assets, which are increasingly embedded in our daily lives and reshaping the economy, and sustainable development financing aimed at achieving targets to reduce humanity’s environmental impact.”  

The first session, titled “Digital Asset Revolution: Astana on the Global Map of Digital Finance”, was led by Evgeniya Bogdanova, Chief Executive Officer of the Astana Financial Services Authority (AFSA).  

Evgeniya Bogdanova, CEO of AFSA: “ Kazakhstan is taking significant steps to establish itself as a regional leader in the digital assets sector. This journey began in 2019 with the launch of the AIFC FinTech Sandbox and the introduction of an experimental regulatory regime within the AIFC. In 2022, the AIFC, together with national regulators, launched a joint pilot project for crypto-fiat gateways involving 6 cryptocurrency exchanges, 8 banks and almost 50 thousand users – a project that proved highly successful. Today, the AIFC operates as a fully developed ecosystem, home to licensed crypto platforms such as Binance, Bybit, Bitfinex, and other digital asset service providers. In the first quarter of this year alone, total trading volume reached USD 1.7 billion.”  

At the session, Zhaslan Madiyev, Minister of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan; Lily Liu, President of the Solana Foundation; Binur Zhalenov, Chief Digital Officer and Advisor to the Governor at the National Bank of Kazakhstan; Nurkhat Kushimov, General Manager of Binance Kazakhstan; and Sanzhar Suleimanov, Vice President and Regional Director for Central Asia at VISA, discussed how digital assets are reshaping the financial landscape. 

The rapid adoption of digital assets is already creating not only new opportunities, but also challenges for financial systems and the broader economy. In this context, the speakers explored the evolution of digital currencies – from cryptocurrencies and tokens to central bank digital currencies (CBDCs) – and their potential impact on monetary policy. 

The discussion also highlighted Kazakhstan and the AIFC’s unique position within the global digital asset regulatory landscape, the potential of blockchain-based services to streamline cross-border payments and settlements, the implications of central bank digital currencies (CBDCs) for traditional monetary policy and the role of central banks, as well as the growing popularity of digital assets as investment instruments both in Kazakhstan and globally. 

Nurkhat Kushimov, General Manager, Binance Kazakhstan: “We chose the AIFC as our jurisdiction because Kazakhstan is a strategically important market for Binance. It is especially valuable when a jurisdiction offers transparent, adequate, and well-balanced regulation. Moreover, as a company, we see it as our responsibility to operate in such environments – to share technology, invest in infrastructure and human capital, and support the development of local teams”. 

Lily Liu, President of the Solana Foundation, said: “As an industry, the crypto sector must continue investing in talent development and capital formation. These have always been the foundational elements in building an ecosystem like Solana – consistently attracting developers and builders, and providing them with the necessary resources and expertise. (…) We are particularly committed to this in Kazakhstan, as the country stands out as one of the leading talent ecosystems in the 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 3,800 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]