Reasons for the AIFC
- a model with several regulated activities
- international clients and partners
- law based on the principles of English law
- Home
- Crypto licensing
- AIFC / AFSA
Digital assets in the AIFC: the AFSA regime
The Astana International Financial Centre has its own law and its own regulator. Firms carrying on digital asset activities in the AIFC are authorised by AFSA.
Basis
How the regime works
- AFSA administers AIFC acts and is responsible for authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC
- digital asset activities are governed by the AIFC Rules on Digital Asset Activities; the current version took effect on 1 January 2026
- following a review of the rules, all firms carrying on activities in relation to digital assets are treated as Digital Asset Service Providers (DASPs)
- separate rules govern cooperation between digital asset providers and Kazakhstan's second-tier (commercial) banks
Company registration in the AIFC, AFSA authorisation and Astana Hub participant status are three different procedures. Registration in the AIFC does not entitle a firm to provide regulated services.
Activities
Examples of regulated activities
The scope of the licence depends on the set of services. Below are activities referred to directly in AFSA publications and AIFC rules.
| Model | Regulated activity in the AIFC |
|---|---|
| Trading platform | Operating a Digital Asset Trading Facility |
| Exchange and dealing with clients | Dealing in Investments as Principal; Dealing in Investments as Agent |
| Payment operations with digital assets | Providing Money Services in relation to Digital Assets |
| Fiat stablecoins | Issuance only by an AFSA-authorised firm |
The exact list of activities for your model is determined under the current AIFC rules during the assessment.
Comparison
When to consider the AIFC
The choice between the AIFC and the national regime depends on the model, not on incentives.
What to consider
- capital and staffing requirements under AFSA rules
- restrictions for resident retail clients
- the procedure for working with second-tier banks
Our work
What we do in the AIFC
- classifying the model under AIFC rules
- company registration in the AIFC
- preparing the AFSA authorisation application
- rules, policies and AML/KYC procedures meeting AFSA requirements
- business plan and financial model
- technical preparation of the platform
- support through the review
- support after authorisation
- AIFC Rules on Digital Asset Activities, version effective 1 January 2026 (aifc.kz)
- AFSA publications on amendments to the digital asset framework (afsa.aifc.kz)
- Information checked as of 15 October 2026
Let us discuss your model and the right regime
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