The Astana International Finance Center has announced the creation of a working group along with the firms Deloitte, Waves, Juscutum and Kesarev Consulting to develop an ecosystem that allows blockchain solutions.
In the words of Nurlan Kussainov, CEO of the AIFC Authority, AIFC aspires to become the most favorable FinTech jurisdiction with an open ecosystem and the most influential regulatory frame of reference.
The AIFC working group is aimed at developing legislation regulating cryptoconversion transactions; Establish the ecosystem for the use of Blockchain technology, cryptoassets and projects based on the chain of blocks; The creation of an environment conducive to innovative development in Kazakhstan and the development of dialogue between enterprises, citizens and government, and the improvement of the investment climate in Kazakhstan for the development and support of innovative technologies.
“We regard this project as a perfect opportunity to create a new jurisdiction, which would be more favorable for cryptography projects around the world. We are very pleased with the willingness of the AIFC to accept this new phenomenon, “says the director of Juscutum, Artem Afyan.
Cryptoeconomics lacks efficient regulatory mechanisms, although it has experienced rapid growth in recent years. There is an urgent need to build the legal framework for block-string projects and crypto-currencies. There is currently no jurisdiction to fully satisfy all crypto-economy applications. Astana has a good chance of being a step ahead and occupy this niche in the global market.
“We are confident that the results of this group, which includes the Waves Platform, will attract new investors to Kazakhstan and help the country become a new destination in the field of this technology,” says Waves founder and CEO Sasha Ivanov This collaboration will make it possible to develop more favorable conditions for ICO projects and to use best international practices to achieve this objective.
“Kazakhstan became the second country in the world, after Japan, which recognized the need to develop the market system of crypto-economy at the government level. Developing the digital currency market based on the Astana International Financial Center is the first step Towards the creation of a complete ecosystem for the digital economy in Kazakhstan, “said Natalia Sheiko, partner at Kesarev Consulting.
An independent legal and regulatory framework based on the English common law principles and the Fintech Sandbox, a special scheme for innovative projects within the Astana International Financial Center, are unique advantages in attracting capital to different projects around the world.
“The creation of an enabling regulatory environment for block chain projects is currently crucial and included in the agenda of the most innovative economies around the world. We are pleased to be part of the consortium created and to participate in a regulatory development process based In world best practices and a deep understanding of the industry, “said Artem Tolkachev, Director of Legal Services for Technological Projects at Deloitte CIS.
Strategic alliances like this are the initiatives that will promote a frame of reference to manage to cover global deficiencies such as the one that for now remains in the absence of a global and uniform regulatory framework in blockchain projects.
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