Experts discussed opportunities and risks of regulating digital assets in Kazakhstan as part of the Astana Finance Days. The participants exchanged ideas on how this industry can be controlled by major players in the crypto market. According to the AIFC specialists, this market is new for Kazakhstan. Therefore, it is necessary to apply a number of regulatory measures such as creating new approaches for eliminating fraud, centralizing the work of government agencies and creating new trends for crypto market majors. Additionally, the participants discussed topics such as protecting retail investors, supporting FinTech innovation and volatility of digital assets.
“The issues of regulatory approaches to digital assets were discussed today. How can we make the market safe? In general, they are very popular in Kazakhstan and this was probably facilitated by mining that brought Kazakhstan to the second place in the market of the largest miners. That is, it is very popular in Kazakhstan right now. Also, it is due to the fact that digital assets provide ease of settlement compared to traditional financial instruments, so all this combined makes the market attractive,” said Yagub Zamanov, Senior Officer of the Fintech Department of AIFC Committee on Regulation of Financial Services.
