Applying for a crypto license in Kazakhstan is a formal process that requires compliance with the country’s laws and statutes governing the use of virtual resources. The Astana Financial Services Authority (AFSA) oversees the regulatory framework for cryptocurrencies in Kazakhstan.
On July 5th, 2018, the Astana International Financial Centre (AIFC) was established as a financial center in Astana, Kazakhstan. Its main objectives are to attract investments and cater to clients from Asia, Europe, and the Middle East.
The AIFC comprises several entities. The AIFC Management Council sets the hub’s strategic direction, the AIFC Authority is in charge of developing and promoting the AIFC, the Astana Financial Services Authority (AFSA) regulates financial services, the AIFC Court has a legal system based on English law, the AIFC International Arbitration Centre handles disputes, and the AIFC Bureau for Continuing Professionals Development is responsible for developing human capital.
AIFC provides a favorable environment to attract Western markets, offering benefits such as a preferential tax regime, a common law framework, and simplified visa and labor regimes. Businesses interested in establishing a presence within the AIFC can submit an application form to AFSA.