🌍 Discover the Heartbeat of Central Asian Fintech! 🌍
Join us for an exclusive gathering tailored for fintech and web3 startups: "Gateway to Central Asia: Discovering Kazakhstan's Fintech Oasis." This event offers a unique opportunity to delve into the burgeoning fintech landscape of Kazakhstan, a nation rapidly positioning itself not just as the financial nexus of Central Asia, but as a significant player on the global stage.
Global Vision, Local Expertise: Navigate the intricacies of AIFC, understanding its positioning not just in Central Asia, but its global outreach and impact.
Regulatory Insights: Engage directly with AFSA, getting to the heart of financial regulations and their relevance in the international arena.
Real-world Collaborations: Hear first-hand the success story of BigONE exchange's collaboration with AFSA, offering an insightful case study on industry-regulator cooperation.
Networking Nirvana: Connect with like-minded leaders, fostering collaborations, partnerships, and future opportunities.
9.30 Event Starts
9.40 Introduction of AIFC
9.45 Introduction of AFSA
10.10 Fireside Chat with BigONE, Chainalysis and AFSA
AIFC: AIFC (Astana International Financial Center) is a common law jurisdiction located in Astana city, Kazakhstan established to foster development of financial services in the region. It is the only place in Central Asia with a comprehensive set of rules which encompass international standards and best practice. AIFC consists of the AIFC administration, AFSA, Astana International Exchange and AIFC Court.
AFSA: AFSA (Astana Financial Services Authority) is an independent financial services regulator within the AIFC. It is home to more than 70 licensed firms from all around the world. These firms include asset managers, brokerage firms, banks, exchanges and others. AFSA is a member of International Organization of Securities Commissions (IOSCO), International Association of Insurance Supervisors (IAIS), Group of Banking Supervisors from Central and Eastern Europe (BSCEE), Islamic Financial Services Board (IFSB) and Accounting and Auditing Organization for Islamic Finance Institution (AAOIFI).
AFSA has successfully passed a mutual evaluation by FATF in 2023.
AFSA has a separate FinTech Division which operates a regulatory sandbox called FinTech Lab. FinTech Lab is a tailored live environment, where firms can offer innovative financial and RegTech services without being immediately subject to the full set of regulatory requirements.
FinTech Lab allows:
• firms licensed in foreign jurisdictions to test the regional markets with minimum resources and presence in AIFC.
• start-up firms to provide activities regulated in the AIFC by gradually complying with regulatory requirements.
• both incumbent and start-up firms to test new products and technologies in a live environment with real clients.
Crypto firms are currently residing with the sandbox and operate under testing regime, meaning that some limitations apply (retail client investment and holding limits). However, the recently adopted Digital Asset Activities rulebook is set to allow crypto firms which graduate from the sandbox to operate as a full-scale firm.