The Astana International Financial Center (AIFC) has officially registered 8 cryptocurrency exchanges within its jurisdiction, as announced by AIFC Administrative Chairman Yernur Zhosmakhanbetov during a Senate meeting on January 19, 2023.
Key Developments:
- Additional Applications: 19 more cryptocurrency exchanges have submitted registration requests.
- User Engagement: Over 1 million Kazakhstani citizens are currently participating in cryptocurrency trading, though official statistics on insecure crypto assets remain unavailable.
"The Digital Assets Law will streamline the regulation of digital mining operations," Zhosmakhanbetov emphasized.
Legislative Progress:
The Digital Assets Law of the Republic of Kazakhstan aims to establish a legal framework for:
- Digital mining regulation
- Production and circulation of digital assets
- Foreign investment attraction in the sector
While the Senate endorsed the bill’s core objectives, it proposed revisions to specific clauses and returned it to the Mazhilis (lower house) for amendments.
FAQ Section
Q1: What is the significance of AIFC’s cryptocurrency exchange registrations?
A1: The registrations validate Kazakhstan’s growing role in the global crypto economy, fostering investor confidence and regulatory clarity.
Q2: How might the Digital Assets Law impact foreign investors?
A2: By formalizing legal standards, the law aims to attract international capital and stabilize the digital asset market in Kazakhstan.
Q3: Are there risks for crypto traders in Kazakhstan?
A3: While participation is high, the lack of official data on asset security underscores the need for due diligence and regulatory oversight.
👉 Explore secure crypto trading platforms for vetted exchange options.
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