Kazakhstan Seeks to Become Regional Hub for Cryptocurrency Industry.
Kazakhstan has announced that the AIFC will work in partnership with Deloitte and Waves to develop a permissive regulatory apparatus for cryptocurrency, blockchain, and fintech businesses. CEO of the AIFC Authority, Nurlan Kussainov, stated that the
*** “AIFC aims to become a most favorable fintech jurisdiction with an open ecosystem and the most progressive regulating framework. We thank our partners for the support given to our blockchain regulatory development initiative. In the next phase of the project, our working team will be looking at widening the participation to include other industry stakeholders”.***
The news comes less than a month after the national bank of Kazakhstan unveiled its plan to issue bonds backed by the development of “a mobile application for the population to conduct transactions for the purchase and sale of securities on the basis of blockchain.” The app is intended to facilitate the sale of bonds directly to investors and without commission, with officials hoping that low transaction costs and fast settlement times will attract scores of retail investors.
Artem Tolkachev, Director of Legal Services for Technology Projects at Deloitte CIS, described the development of permissive regulatory frameworks for blockchain and cryptocurrency as necessary in order to empower innovation within the industry. Tolkachev stated that the
*** “creation of an enabling regulatory environment for blockchain projects is currently crucial and is included to the agenda of the most innovative economies around the world. [Deloitte] are glad to be a part of the created consortium and to participate in a regulatory development process.”***
Deloitte has also recently partnered with the Singaporean government to trial issuing Singaporean dollars via distributed ledger technology.
Sourced at:https://news.bitcoin.com/kazakhstan-seeks-to-become-regional-hub-for-cryptocurrency-industry/
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