{"id":463785,"date":"2022-06-16T13:28:49","date_gmt":"2022-06-16T10:28:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kazakhstan-to-let-crypto-exchanges-open-bank-accounts\/"},"modified":"2022-06-16T13:28:49","modified_gmt":"2022-06-16T10:28:49","slug":"kazakhstan-to-let-crypto-exchanges-open-bank-accounts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kazakhstan-to-let-crypto-exchanges-open-bank-accounts\/","title":{"rendered":"# Kazakhstan to let crypto exchanges open bank accounts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a286ff92bfab\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a286ff92bfab\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/kazakhstan-to-let-crypto-exchanges-open-bank-accounts\/#%E2%80%9D_Kazakhstan_to_let_crypto_exchanges_open_bank_accounts_%E2%80%9C\" >&#8221; Kazakhstan to let crypto exchanges open bank accounts &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Kazakhstan_to_let_crypto_exchanges_open_bank_accounts_%E2%80%9C\"><\/span>&#8221; Kazakhstan to let crypto exchanges open bank accounts &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZjE0OTA0M2MtNjYzNi00MzM5LWFmY2EtNDRkNDFlMjczMGJkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>In addition to its swift advances toward regulating crypto mining, Kazakhstan will launch a pilot project for crypto exchanges in the special economic zone of Astana International Finance Centre.\u00a0<\/p>\n<p>The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan Republic <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gov.kz\/memleket\/entities\/mdai\/press\/news\/details\/388987?lang=kk\">announced<\/a>\u00a0on Thursday a pilot project of cooperation between the crypto exchanges and some of the local banks. <\/p>\n<p>The working group formulated the guidelines for that cooperation, consisting of the representatives of the Ministry of Digital Development, the National Bank, the Financial Monitoring Agency, the Association of Financiers, Astana International Finance Centre and the finance and crypto market stakeholders.\u00a0<\/p>\n<p>The pilot project will be functioning until the end of 2022 and include the exchanges that have gained a license from the freshly-formed Astana Financial Service Authority (AFSA). It will make a blueprint for the subsequent development of Kazakhstan as a regional crypto hub. Close guidelines should soon be published on the AIFC webpage. <\/p>\n<p>Head of AFSA Nurhat Kushimov declared that the mission of his committee is to create an environment for reliable and sustainable companies to operate:<\/p>\n<blockquote><p>\u201cThe Astana Financial Service Authority is the only entity responsible for regulating the fintech companies&#8217; activities in Kazakhstan. Before handing out the license to a fintech company, we conduct a deep and thorough background check, and after that maintain its constant supervision.\u201d<\/p><\/blockquote>\n<p>Bagdat Musin, the minister of digital development, voiced Kazakhstan\u2019s aim to profit off crypto exchanges:<\/p>\n<blockquote><p>\u201cIt is necessary to create a complete ecosystem, so the digital assets, that have been mined using Kazakhstan\u2019s electric energy, would be traded at the local exchanges to the maximum extent and the profit would stay in the country\u201d.<\/p><\/blockquote>\n<p>On May 25, the Kazakh parliament passed in the first reading the amendments to the national tax code to impose a crypto mining tax tied to the electricity prices consumed by mining entities.<\/p>\n<p><strong><em>Related: Bitcoin miners\u2019 resilience to geopolitics: A healthy sign for the network<\/em><\/strong><\/p>\n<p> On the same day, the largest crypto exchange Binance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/blog\/ecosystem\/binance-signs-mou-with-the-ministry-of-digital-development-of-the-republic-of-kazakhstan-421499824684903899\">signed<\/a> a memorandum of understanding with the Ministry of Digital Development and revealed an intention to advise on developing the legislative framework and regulatory policy for crypto-assets in the republic. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/kazakhstan-to-let-crypto-exchanges-open-bank-accounts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Kazakhstan to let crypto exchanges open bank accounts &#8220; In addition to its swift advances toward regulating crypto mining, Kazakhstan will launch a pilot project for crypto exchanges in the special economic zone of Astana International Finance Centre.\u00a0 The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan Republic announced\u00a0on Thursday a pilot&#8230;<\/p>\n","protected":false},"author":1,"featured_media":463786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZjE0OTA0M2MtNjYzNi00MzM5LWFmY2EtNDRkNDFlMjczMGJkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74989,74858,75042,117,76242,70934],"class_list":["post-463785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bitcoin-mining","tag-bitcoin-regulation","tag-mining","tag-business","tag-kazakhstan","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463785"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463786"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}