Members of the Senate, the Upper House of the Kazakh Parliament, discussed the development of the digital assets industry in Kazakhstan. MPs and representatives of government agencies noted that since the adoption of the relevant law, 70 licenses have been issued to miners, more than 400,000 units of equipment have been registered, and 12 cryptocurrency exchanges are operating in the country. In addition, 27 digital asset providers operate within the AIFC. Berik Sholpankulov, the Deputy Governor of the National Bank presented a package of legislative amendments aimed at regulating the market and protecting investors. For investors, the regulator will establish a list of cryptocurrencies permitted for circulation, as well as limits and restrictions on client transactions carried out by digital asset service providers. This will create conditions for bringing cryptocurrency turnover out of the shadows and strengthening consumer protection. According to Sholpankulov, the introduction of digital financial assets and the creation of infrastructure provides for the launch of a new class of digital instruments.
«The introduction of three types of digital financial
assets is provided for. The first type of digital financial asset is
stablecoins. The National Bank will define the requirements for their issuance,
circulation, and redemption. The second type includes digital financial assets
whose underlying asset is financial
instruments, financial assets, property rights, commodities, or other forms of property. The third type is financial
instruments issued in electronic-digital form on a digital platform,» shared Berik Sholpankulov,
Deputy Governor of the National Bank of Kazakhstan.
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