Kazakhstan to let crypto exchanges open bank accounts

Kazakhstan to let crypto exchanges open bank accounts


In addition to its swift advances toward regulating crypto mining, Kazakhstan will launch a pilot project for crypto exchanges in the special economic zone of Astana International Finance Centre. 

The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan Republic announced on Thursday a pilot project of cooperation between the crypto exchanges and some of the local banks.

The working group formulated the guidelines for that cooperation, consisting of the representatives of the Ministry of Digital Development, the National Bank, the Financial Monitoring Agency, the Association of Financiers, Astana International Finance Centre and the finance and crypto market stakeholders. 

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The pilot project will be functioning until the end of 2022 and include the exchanges that have gained a license from the freshly-formed Astana Financial Service Authority (AFSA).

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