💣 Kazakhstan 🇰🇿 legalizes cryptocurrency exchanges

💣 Kazakhstan 🇰🇿 legalizes cryptocurrency exchanges

Crypto exchange operators will gain a specific legal status… but to formalize it, they’ll also need a license from the National Bank.

▶️ Legally, the new status is defined as "providers of cryptocurrency exchange services". The list of permitted assets for investment, purchase, or sale will be determined by the regulator.

▶️ A "functional exchange" is being established between crypto exchanges and trading platforms operating under the Astana International Financial Centre (AIFC).

▶️ Qualification requirements: to comply with the regulation, companies must implement risk management systems, asset and data protection mechanisms, tools to ensure operational transparency, and safeguards for investor rights.

▶️ Reminder: currently, any crypto-related activity by “major players” in Kazakhstan requires licensing and registration with the AIFC. The crypto exchange Bybit and Binance’s local platform are already operating in the republic.

#news #Central_Asia #crypto

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