Cryptolicense in Kazakhstan

June 16, 2023
city 4229352 1280

In Kazakhstan, the formulation of rules for computerized money trades is still in progress. Nevertheless, the National Bank of Kazakhstan provided instructions regarding the issue of crypto license in Kazakhstan.

Key highlights

In May 2022, the NBRK, ARDFM, AIFC, and MDDIAI introduced trial rules permitting cryptocurrency exchange in Kazakhstan under specific limitations. Trades are needed to acquire a permission, while banks must affirm their commitment to partake in the experimental initiative. The legal framework was formulated to adhere to global standards, giving effective oversight of transactions and safeguarding customer accounts. The objective is to uphold openness and accountability in the trade against fiscal illicit activities. By enforcing enrollment, government establishes a protected environment for the trade of computerized currencies.

Getting authorization

The AFSA grants three types of permissions: Regulated actions, Market Actions, and Ancillary actions. These permissions determine the permitted type and extent of fiscal actions made by a firm. In our case, Kazakhstan cryptocurrency exchange license fall under the category of Market Actions.

The authorization process assists the AFSA in identifying and preventing serious misconduct or harm, ensuring compliance with threshold conditions for firms and individuals.

During this stage, the applicant submits the necessary appeal forms and supporting papers listed. The AFSA evaluates the appeal and provides preliminary feedback.

The purpose of this stage is to get preliminary approval for the Kazakhstan crypto exchange license eligibility. To streamline the process and save resources for all parties involved, the AFSA reviews all applicant documentation for compliance with AIFC requirements before initiating the licensing process. If there are any remarks or comments on the applicant’s documentation, the AFSA allows time for addressing the inconsistencies and resubmitting the papers.

Upon successful appeal, the AFSA notifies the applicant of the application’s status and issues a letter of In-Principal Approval.

Firm enrollment

To apply for enrollment of a Crypto License in Kazakhstan 2023, the candidate must give the following data:

  • Appeal for reserving a legal name – accompanied by the prescribed fee stated in the AIFC Legal Acts periodically.
  • Articles of Association – one of the company’s fundamental documents that outlines its fundamental management, administrative structure, and corporate governance.
  • Registered office address – physical location to which all communications and notices may be directed.
  • Authorized signatory – an individual authorized to act on behalf of the lawful entity in operational matters. This authority may be granted through a resolution or power of attorney, and a copy of the authorization must be submitted to the Registrar of Companies along with the application for legal entity enrollment.
  • Directors – the initial directors of the firm, elected by the Incorporators. A private company must have at least one director.
  • Firm Secretary – an officer appointed by the directors of the firm, responsible for guaranteeing conformity with the company’s corporate administration rules.
  • Beneficial Owner – in the case of a body corporate shareholder/partner, details of the beneficial owner holding more than 25% of shares/ownership must be provided.
  • Resolution – the registration application must be accompanied by a copy of the resolution signed by each shareholder/partner of the proposed lawful entity.
  • Anti- Fraud – completion of questionnaires related to the Anti- Fraud section.

A fee of USD 300 must be paid to register a lawful entity with the AIFC. Upon verification of the submitted documents, the candidate receives a Certificate of Registration.

Getting a permit

After reviewing all comments, making necessary adjustments, and receiving the Certificate of Registration and In-Principal Approval, the candidate submits the complete set of papers. Based on this issue, the final decision on issuing the agreement is made. Once the permission is obtained, the applicant has the right to perform their actions.


In conclusion, the procedure for enrollment and establishing a computerized currency company involves several important stages. From obtaining authorization and in-principal approval to registering the legal entity and acquiring the necessary agreement, each step plays a crucial role in proving compliance with rules and allowing the firm to work. Through careful submission of documentation, adherence to AIFC requirements, and payment of applicable fees, applicants can navigate the enrollment procedure successfully. Ultimately, the goal is to provide a secure and regulated atmosphere for virtual currencies firms to thrive and contribute to the fiscal actions field.

Related insights

5 Best jurisdictions for Gaming license

In the vibrant realm of online-gaming, selecting a jurisdiction for achieving gaming permission transcends a mere adjustment formality; it’s a crucial decision impacting field access, tax obligations, and the brand’s prestige. A wise choice can unlock doors to profitable fields, build trust among players and partners, and ensure a stable legal framework conducive to growth….

Read more 17.04.2024

In which countries is it better to buy Real Estate in 2024?

In the ever-evolving landscape of global real-estate acquisition, the question of where to invest money is crucial. While the past may offer some insights, the future is where depositors aim to position themselves for success. Now, in 2024, various factors come into play when determining the best countries for real-estate acquisition. From economic solidity to…

Read more 16.04.2024

Top 6 Best Offshore Jurisdictions for crypto:

In recent years, the cryptocurrency field has witnessed exponential growth, attracting investors and enthusiasts alike from all corners of the globe. However, navigating the legal landscape surrounding cryptocurrencies can be complex, with adjustments varying significantly from one lawfulment to another. For those looking to establish a crypto-related business or simply seeking a favorable adjustment circumstances…

Read more 08.04.2024

What is important to know when buying Property in Turkey?

Whether you’re considering purchasing a holiday home, an investment in property, or relocating permanently, buying real estate in Turkey can be a rewarding venture. However, like any possessions purchase, it requires careful consideration and research to ensure a smooth transaction and avoid potential pitfalls. In this guide, we’ll explore the key factors to keep in…

Read more 21.03.2024

Top 6 Promising Countries for Real Estate Investment in 2024

In the dynamic world of Investment in Real estate, identifying promising terminus is essential for maximizing returns and mitigating risks. As we navigate through 2024, several states stand out as hotspots for real-estate funding, offering lucrative possibilities and favorable field conditions. From emerging fields to established hubs, investors are eyeing these top six states for…

Read more 14.03.2024

Forex dealer license in Samoa

Admission to foreign-sourced currencies deals is granted to those financially-set establishments, monetary transfer operators and exchange-offices officially-licensed by local regulative authorities – Central Banking facility. Possession of such a permit grants  rights to spread currencies exchanging services for capital-holders and corporate clients.  Possibilities and privileges of Forex-business in Samoa Conducting brokerage-activities on FX-platforms provides stable…

Read more 26.02.2024

Fund in Luxembourg

Because of its privileged location in central part of Europe and widely-extensive expertise in field of financial tools and mechanisms, this duchy remains in demand among entrepreneurs wishing to establish funding structures locally. Commonly-choosing status of the center in EU and second most-considered essential on global level after USA is because of well-developed regulative basis;…

Read more 26.02.2024

Forex Dealer License in Solomon Islands

In a rapidly-evolving financial environment, forex-markets are a rather complex and dynamic space. For those seeking to launch a brokerage firm in this country, getting foreign exchange dealer license is mandatory in accordance with local national laws. Forex trading legal in Solomon Islands: preparation for operation Getting money changer license starts directly with officially-approved registration…

Read more 26.02.2024

Crypto regulation in South Africa

Jurisdiction is quite welcoming and supportive of cryptoassets and promotes their active implementation in local market-spaces. Regulative framework-basis for crypto-sphere is quite ambiguous, nevertheless, any activities in crypto-market are covered by strict control. Country doesn’t set a single law governing crypto-currencies, but there’re a plenty of different normative acts applying to this niche, incl. Exchange…

Read more 26.02.2024

MSB license in Dubai

Dubai International Financial Center is rapidly becoming recognized as a premier hub for MEASA. According to the Global Index, published in March 2023, Dubai occupies a leading position among financial centers in the region. Over the past five years, Dubai has consistently maintained its high position worldwide, specifically for capital-holders wishing to enter financial services…

Read more 29.01.2024

Crowdfunding in Portugal

Such schemes in Portugal continue to expand. Country’s regulator has registered six management companies operating crowdfunding resources, predominantly in area of lending. As industry develops and the number of participants grows, changes are possible due to the adoption of the Regulation on European agents providing crowdfunding services for business-projects. There may also be a move…

Read more 24.01.2024

How to begin a Cook Islands Trust in 2023

In the realm of multinational affluence governance and acquisition safety, trust-companies have long been regarded as powerful tools for safeguarding purchases and ensuring monetary privacy. The Cook Islands, nestled in the heart of the South Pacific, has emerged as a jurisdiction of choice for establishing trust-companies due to its robust lawful substructure and favorable adjustments….

Read more 22.12.2023