• Bitcoin
  • Blockchain
  • Crypto
  • Metaverse
  • AltCoins
  • Business
  • Investment
  • Upcoming
What's Hot

Empowerment Over Fear: Bitcoin, Home Birth And Responsible Sovereignty

March 26, 2023

Why We Opened The Belgrade Bitcoin Hub

March 25, 2023

How Will Bitcoin Adapt To Banking Uncertainty?

March 25, 2023
Facebook Twitter Instagram
  • Bitcoin

    Empowerment Over Fear: Bitcoin, Home Birth And Responsible Sovereignty

    March 26, 2023

    Why We Opened The Belgrade Bitcoin Hub

    March 25, 2023

    How Will Bitcoin Adapt To Banking Uncertainty?

    March 25, 2023

    What is a Wallet? Guide to storing Bitcoin

    March 24, 2023

    Nasdaq Eyeing Q2 2023 Release For Bitcoin And Crypto Custody Platform

    March 24, 2023
  • Blockchain

    BlockJoy raises $12M to help cut operating costs for businesses running blockchain nodes • TechCrunch

    February 2, 2023

    Blockchain Futurist Conference — Canada’s biggest crypto conference returns for fifth year

    February 2, 2023

    WEMADE and Metagravity Sign Strategic Alliance MOU to Collaborate on Blockchain Games for the Metaverse

    February 2, 2023

    Will Polkadot’s [DOT] new parachain fix the blockchain?

    February 1, 2023

    BNB Chain Unveils 3rd Blockchain in BNB Ecosystem, Tether ‘Never Borrowed from Celsius’, Ripple Sold $226M Worth of XRP in Q4

    February 1, 2023
  • Crypto

    Crypto Donations Now Need An Appraisal

    February 2, 2023

    Bitcoin Shrugs Off Fed Rate Hike to Hit Six-Month High

    February 2, 2023

    Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    February 2, 2023

    Yates County cryptocurrency miner completes debt restructuring deal

    February 1, 2023

    How ‘King of Instagram’ Dan Bilzerian ‘made millions’ from cryptocurrency after bizarre poker deal

    February 1, 2023
  • Metaverse

    Facebook’s Metaverse Division Lost Nearly $14 Billion Dollars Last Year

    February 2, 2023

    Samsung Hints Metaverse Ambitions At Product Launch Event, Eyes Integrating Different Realities Into Premium Smartphones

    February 2, 2023

    Sanlam makes history with SA’s first media launch in the metaverse

    February 2, 2023

    Meta’s plans to expand metaverse are up and running again: Here’ how

    February 2, 2023

    RFOX VALT Launches AI-Enabled Metaverse Apartments for Sale

    February 1, 2023
  • AltCoins

    Altcoins Lead Post-Fed Crypto Rally as Risk Appetite Increases

    February 2, 2023

    CAKE, SHIB And These Alt-Coins Are Trending

    February 2, 2023

    Elon Musk Wants McDonald’s to Accept Crypto Payments. Dogecoin (DOGE), Bitcoin (BTC), and Snowfall Protocol (SNW) Benefit

    February 2, 2023

    Crypto Analysts are Saying These Altcoins Have Huge Potential – Here’s Why

    February 2, 2023

    Are Cryptos Bound to Retrace Amid Recent Pump?

    February 1, 2023
  • Business

    Ray Dalio Warns Money Is in Jeopardy, Favors Inflation-Linked Crypto

    February 2, 2023

    BIT Mining Limited Regains Compliance with NYSE Continued Listing Standards

    February 2, 2023

    Bithumb’s de facto owner arrested over alleged embezzlement

    February 2, 2023

    Crypto Custody Firm Copper Alerted to Security ‘Incident’ Over Christmas

    February 1, 2023

    Cathie Wood’s Ark Invest Says Bitcoin Could Hit $1.5 Million by 2030

    February 1, 2023
  • Investment

    The Investor’s Guide to Crypto Options Trading

    February 2, 2023

    Pune software engineer loses Rs 13 lakh to crypto investment fraud

    February 2, 2023

    Crypto Investment Products’ AUM Surges as Investor Confidence Returns: CryptoCompare Report

    February 2, 2023

    Crypto Investors Can Purchase Bankruptcy Put Options to Protect Funds on Binance, Coinbase, Kraken Crypto Exchanges

    February 1, 2023

    Ethereum price forecast for February, including Morgan Stanley comments By Investing.com

    February 1, 2023
  • Upcoming

    S&P 500 rises to the highest level in five months Thursday as Meta leads a tech comeback

    February 2, 2023

    Looking For Something Different From Nubank and C6 Bank? Try Lanistar! – Sponsored Content

    February 2, 2023

    NYDFS Releases Guidance For BitLicensees And Limited Purpose Trust Companies On Asset Custody In The Wake Of Cryptocurrency Insolvencies – Financial Services

    February 2, 2023

    This Supreme Court Case Will Reverberate Throughout the Compliance and ESG World | NAVEX

    February 2, 2023

    Ethereum (ETH) Could Reclaim $2,000, Trader Says

    February 1, 2023
investorstoday.press
investorstoday.press
Home»Crypto»Here’s how Kazakhstan aims to enhance its legacy crypto trading framework
Crypto

Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

maikdezana@icloud.comBy maikdezana@icloud.comJanuary 31, 2023No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining destinations, issued a consultation paper to gauge public interest in proposed amendments to improve the cryptocurrency trading framework.

The policy paper, released on Jan. 27, was laid down by the Astana Financial Services Authority (AFSA), a Kazakh regulator. The AFSA pointed out that the Astana International Financial Centre’s Digital Asset Trading Facility (DATF) regulatory framework dates back to 2018 and that the amendments seek to introduce certain enhancements.

AFSA’s analysis highlighted problems related to the ongoing supervision of crypto exchanges, revealing “contradictions, inefficient provisions and uncertain definitions within the regime.” It recommended introducing risk mitigation measures around several fronts, including governance, illicit activity, safekeeping of clients’ funds and settlement.

Regarding DATF framework restructuring, the paper recommended three options — keeping the existing framework form, developing a standalone DATF framework and treating crypto exchanges as a multilateral trading facility.

The AFSA believes that the policy recommendations will bring about several improvements, including risk mitigation related to crypto operations and the industry in general. In addition, the enhancements will address contradictions and unclear provisions of the existing framework. The final outcome, expected by AFSA, is to create a favorable regime for crypto exchanges while encouraging innovation.

According to the policy paper, the proposed measures will have a positive impact on crypto trading industry:

“This will collectively help to create more a clear, convenient, efficient, detailed and balanced AIFC DATF framework with high standards for consumer protection, without hindering development of crypto exchanges.”

On an end note, the paper revealed that the review of the DATF framework aligns with the “AFSA’s Strategy for 2022” initiative, where the development of “Digital Assets framework: Crypto exchanges, STO and DASP” is one of three key regulations development objectives.

Related: Kazakhstan ready to legalize crypto as Russians flock to the country

On the other end of the spectrum, Kazakhstan’s central bank recommended launching an in-house central bank digital currency (CBDC) in 2023, with a phased expansion of functionality and introduction into commercial operation until the end of 2025.

In October 2022, Binance CEO Changpeng “CZ” Zhao revealed that Kazakhstan’s CBDC would be integrated with BNB Chain, a blockchain built by the crypto exchange.