Kazakhstan Set to Become Regional Center for Cryptocurrency Startups

Kazakhstan intends to become the preferred jurisdiction of all previous Soviet states for ICO tasks.

Kazakhstan’s Astana International Financial Center revealed today the development of a working group to establish a community to allow blockchain options for the CIS (Commonwealth of Independent States). This remains in cooperation with Deloitte and Waves, in addition to Ukrainian law practice Juscutum, and Kesarev Consulting.

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“AIFC intends to become a most beneficial FinTech jurisdiction with an open environment and the most progressive controling structure. We thank our partners for the assistance offered to our blockchain regulative advancement effort. In the next stage of the job, our working group will be taking a look at broadening the involvement to consist of other market stakeholders”, stated Nurlan Kussainov, CEO of AIFC Authority.

“There is no higher acknowledgment for lawyer than to be associated with the advancement of regulative guidelines, which were doing not have in practice. It is specifically important that this occurs in the ICO market: brand-new, vibrant, and incredibly challenging for classical law. We consider this task as an ideal chance to produce a brand-new jurisdiction, which would be most beneficial for crypto jobs worldwide. We are extremely delighted with the desire of AIFC to welcome this brand-new phenomenon; it promises for really fast outcomes,” Head of Juscutum Artem Afyan kept in mind.

Sasha Ivanov, Waves CEO

“We are happy that the AIFC is aiming to develop the most beneficial conditions for the advancement of blockchain innovations. To accomplish this objective, concrete actions have currently been taken, among which was the production of a working group. We make sure that the results of this group, that includes the Waves Platform, will draw in brand-new financiers to Kazakhstan and will help the nation to be a brand-new location in the field of blockchain,” Waves creator and CEO Sasha Ivanov mentioned.

“Kazakhstan ended up being the 2nd nation worldwide, after Japan, which acknowledged the need for the advancement of the cryptocurrency market system at the governmental level. The advancement of the digital currency market on the basis of the Astana International Financial Center is the initial step to a development of a full-fledged environment for the digital economy in Kazakhstan,” stated Natalia Sheiko, partner of Kesarev Consulting.

“Creation of a making it possible for regulative environment for blockchain jobs is presently important and is consisted of to the program of the most ingenious economies worldwide. We are happy to be a part of the developed consortium and to take part in a regulative advancement procedure based upon the very best world practices and a deep understanding of the market,” stated Artem Tolkachev, Director of Legal Services for Technology Projects at Deloitte CIS.