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Kazakhstan Aims to Become Regional Cryptocurrency Hub

The Kazakhstan government has declared its intentions to create “the most favourable business climate” for cryptocurrency and fintech companies; and develop a “highly progressive regulatory framework” for crypto companies.

Nurlan Kussainov -CEO of the AIFC Authority – confirmed that the “AIFC aims to become a most favorable fintech jurisdiction with an open ecosystem and the most progressive regulating framework. We thank our partners for the support given to our blockchain regulatory development initiative. In the next phase of the project, our working team will be looking at widening the participation to include other industry stakeholders”.

As one step closer to this goal, The national bank of Kazakhstan announced its plan to issue bonds supported by the development of “a mobile application for the population to conduct transactions for the purchase and sale of securities on the basis of blockchain.” The app will prompt the commission-free sale of bonds directly to investors. The officials anticipate that low transaction fees and fast settlement times will attract more investors.

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