Licensed crypto exchangers are being created in Kazakhstan

The National Bank of Kazakhstan is creating digital asset exchange service providers that will be officially regulated and licensed by the state. This was reported by the director of the financial institution's payment systems department, Erlan Ashykbekov, writes RBC.

Licensed exchange points will be able to exchange cryptocurrencies for fiat money (for example, tenge or dollars). All such platforms will have to comply with anti-money laundering legislation and undergo KYC/AML verification of clients. The list of crypto assets approved for circulation will be approved by the National Bank. The platforms will receive the status of a legal entity operating within the framework of the law and will become part of the national financial infrastructure.

In addition to new exchange points, the regulator is also expanding its powers: supervision of digital financial asset (DFA) platforms; licensing of the issue of stablecoins tied to the national currency or other assets, uniform rules for local exchanges if they are not in the special legal regime of the Astana International Financial Center (AIFC "Astana").

Crypto exchanges registered in the AIFC will be regulated separately, but are required to interact with the new exchange points to provide a single space for the circulation of digital assets.

First Vice Minister of Digital Development of Kazakhstan Kanysh Tuleushin stated that legal cryptocurrency mining could become an important driver for the development of the energy sector and attracting investment.