Astana Finance Day to explore the role of crypto exchanges, AIFC instruments and the impact of sanctions

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ASTANA Crypto exchanges, asset management in emerging markets and the impact of economic sanctions on financial centers will be among the key topics of the Astana Finance Days (AFD) on June 7 on the eve of the Astana International Forum ( AIF).

Around 3,000 participants and 200 speakers from more than 70 countries are expected at AFD, which has hosted a major annual international financial conference since 2018.

This year’s event focuses on five topics, including Astana International Financial Centers (AIFC) Products, Jurisdiction and Regulation, Innovations and Capabilities, Green Growth and Capital Markets.

The program includes a varied selection of panel discussions, which will provide valuable insights into the industry.

The opening session on jurisdiction and regulation will include a panel discussion on the results of the pilot project on the interaction between Kazakh banks and AIFC-registered crypto exchanges.

The objectives of the project are to provide crypto exchanges with access to the Kazakhstan market and allow Kazakh residents and crypto miners to trade on AIFC crypto exchange platforms, create favorable conditions for investments via fiduciary channels provided by second-tier banks (STBs) of Kazakhstan and amend the national legislation of Kazakhstan and acts of the AIFC based on the results of the pilot projects.

The pilot involved five crypto exchanges, Binance, Ataix, Intebix, Xignal Upbit and eight STBs from Kazakhstan: Halyk Bank, Altyn Bank, Zaman Bank, Freedom Bank, Eurasian Bank, Bereke Bank, Nurbank and CenterCredit.

The opening session will be followed by a session on the future of crypto regulation which will include a discussion with academics and industry experts on trends and challenges, the overall picture of the industry and its future prospects.

The global capitalization of cryptomarkets is currently worth $1.17 trillion. Following the collapse of cryptocurrency exchanges, the demand for better regulation of digital assets has increased.

The impact of economic sanctions on financial centers and the role of financial regulators in the prevention of financial crime will also be the subject of discussions within AFD, with the experts giving their point of view during another table. round.

The response of countries to the imposition of far-reaching sanctions highlights the need to strengthen the role of the financial regulator in protecting financial systems and preventing financial crime.

AIFC investment opportunities in emerging markets will also be on the agenda. The number of asset management companies in the AIFC has grown from six to around 30 since the start of 2022, and this number is showing steady growth.

AIFC’s geographically advantageous location, proximity to Central Asian markets with a population of 75 million people and a total gross domestic product (GDP) worth $350 billion, as well as jurisdiction of the AIFC, provide an ideal platform for creating and sustaining a successful business in this sector.

The complete list of discussion panels is available on the AFD website.

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