On the basis of the Astana International Financial Center (AIFC), a pilot project will be launched to create and develop cryptocurrency exchanges. This was announced by the local Agency for the Regulation and Development of the Financial Market.

In preparation for the launch Kazakhstani banks and government agencies are participating in the pilot, and the issue of opening bank accounts for exchanges based on the AIFC is being worked out.

A preliminary check is provided for:

  • the reputation and nature of the activity of the AIFC participant;

sources of origin of funds;

  • operations with the money of the AIFC participant;
  • beneficiary owners, as well as sending information to the financial monitoring authority when suspicious transactions are detected.
  • Banking transactions with other bitcoin exchanges remain subject to current requirements, including the liability of banks to but the development of an internal procedure for “refusing to conduct transactions with unsecured digital assets.”

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