Kazakhstan Will Support the Cryptocurrency Sector Until It’s Under Regulation
Kazakhstan will support cryptocurrencies and blockchain-based projects until they are subjected to regulation, Kazinform reported on 14th June.
Speaking during the Blockchain Conference Astana, held on 14th June, Kairat Kaliyev, Governor of the Astana International Financial Center (AIFC), said the center would continue to support blockchain and crypto assets.
“The problem of regulation of cryptocurrencies is being discussed very intensively. The AIFC has a solid position on this issue – it is crucial to regulate the circulation of cryptocurrencies,” he commented.
The regulatory regime for the crypto sector is developed
According to Kazinform, AIFC plans to implement specific regulation for the cryptocurrency sector this summer. Kairat Kaliyev has confirmed that the center has collaborated with international businesses and that the regulatory regime is already created. He also mentioned that the center continues to provide financial support to fintech startups and organize educational courses about blockchain.
“We have one of the main directions of financial technologies in the IFCA. There are five of them. Speaking about financial technologies, we pay special attention to blockage, as well as to cryptoactives. The problem of the regulation of the cryoproducts is being discussed very intensively. The ACFO has a solid position on this issue – it is crucial to regulate the circulation of crypto-actives, ” stated Kairat Kaliyev.
The Astana International Financial Center is a free economic zone and an important financial hub in Central Asia that was founded to support Kazakhstan’s international trade. According to the AIFC’s website, one of their main objectives is the fintech development of the country.
As reported by media, towards the end of May, Kazakh President Nursultan Nazarbayev referred to the need of regulating the crypto sector as citizens’ interest grows significantly.