3-5th July 2018 — Astana, Kazakhstan

3-5th July 2018

14/06/2018, 14:00

Kairat Kaliyev: It is necessary to regulate the turnover of crypto-assets

Kairat Kaliev, Managing Director of the Astana International Financial Centre (AIFC), speaking at the Blockchain Conference Astana, said that the financial centre is actively developing a regulatory framework for crypto-currency.

According to Mr. Kaliyev, financial technologies, in particular, blockchain and crypto-assets are the key activities of the AIFC.

"It is necessary to regulate the turnover of crypto-assets in order to reduce the potential for fraud, money laundering, illegal transactions. To do this, we developed a project for the regulation of the crypto-assets market. Now it is available on the website http://afsa.kz/open. We invite everyone to take part in the discussion and give feedback" – Kairat Kaliyev said.

Batyrbek Umarov, the founder of the "Blockchain KZ" Community in his speech noted that the novelty of the market affects illegal transactions.

"The market is developing and there are a lot of scammers. The problem is that people suffer. I hope that this breakthrough will give regulations in Kazakhstan" – Mr. Umarov said, referring to the representatives of the AIFC.

In turn, Vadim Adriyan, representative of the Crypviser company spoke about the advantages of creating a depository for the crypto-currency market.

"We are ready to cooperate with AIFC. The creation of a depository or crypto-exchange will allow to find a solution to problems with security and accordingly, with regulatory norms. At the moment, there are 1,700 crypto-currencies, it is very difficult to single out a real asset" – Vadim Adriyan said.

AIFC is actively working on the blockchain industry development in Kazakhstan and the crypto-currency market.

"We joined the consortium R3, Hyperledger we joined as regulators, we actively conduct training events, special courses in general for blockchain" – Mr. Kaliyev added.

"Fintech-2018" forum will be held within the framework of the Astana Finance Days conference, which will take place in Astana from 3 till 5 July 2018. The program and the registration form are available on the official website of the Conference.

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