Introduction

Why are we issuing this Consultation Paper (CP)?

1. 1.The Astana Financial Services Authority (AFSA) has issued this Consultation Paper to seek suggestions from the market on the Policy paper on the Enhancements to the Digital Asset Trading Facility Framework

Who should read this CP?

1. 2.The proposals in this paper will be of interest to current and potential AIFC participants dealing with digital assets as well as the market and other stakeholders.

Terminology

1. 3.Defined terms have the initial letter of the word capitalised, or of each word in a phrase. Definitions are set out in the Glossary Rules (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, the expression has its natural meaning.

What are the next steps?

1. 4.We invite comments from interested stakeholders on the proposed framework. All commentsshould be in writing and sent to the addressor email specified below. If sending your comments by email, please use “Consultation Paper AFSA-P-CE-2023-0001” in the subject line. You may, if relevant, identify the organisation you represent when providing your comments. The AFSA reserves the right to publish, including on its website, any comments you provide, unless you expressly request otherwise. Comments supported by reasoning and evidence will be given more weight by the AFSA.
2. 5.The deadline for providing comments on the proposed framework is 25 February 2023. Once we receive your comments, we shall consider if any refinements are required to this proposal.
3. 6.AFSA prefers to receive comments by email at consultation@afsa.kz or posted to:
4. Policy and Strategy Division
5. Astana Financial Services Authority (AFSA)
6. 55/17 Mangilik El, building C3.2, Kazakhstan

Structure of this CP

Part I – Status Quo;

Part II – Issues; 

Part III – Best Practice;

Part III – Proposals;

Part IV – Public Consultation Questions;

Part V – Outcomes;

Part VI – Strategic Relevance.