On January 1, 2024, the Rules of the IFC for activities with digital assets came into force

As you know, according to the Law of the Republic of Kazakhstan "On Digital Assets in the Republic of Kazakhstan", turnover with unsecured digital assets or crypto assets is prohibited on the territory of the Republic of Kazakhstan. And it is allowed only on the territory of the Astana International Financial Center.

This means that no one has the right to engage in activities with digital assets without an appropriate AIFC license.

Previously, activities related to crypto assets were regulated by various acts of the AIFC. From now on, all norms related to activities with digital assets are consolidated into one rule, which is called the "Rules on Digital Asset Activities".

The Rules cover the following areas of activity:
1. Conducting transactions on investments in crypto assets as an agent and trustee;
2. Investment Management;
3. Custodial services;
4. Organization of investment transactions;
5. Advising on investments in cryptocurrencies.

The Rules regulate the procedure and requirements for the activities of crypto exchanges and persons whose activities are related to crypto assets.

Link to the document: https://orderly.myafsa.com/articles/aifc-rules-on-digital-asset-activities