Astana Finance Day to Explore Role of Crypto Exchanges, AIFC Instruments and Impact of Sanctions

Please fol­low and like us:
Pin Share

ASTANA – Cryp­to exchanges, asset man­age­ment in emerg­ing mar­kets and the impact of eco­nom­ic sanc­tions on finan­cial cen­ters will be among the key top­ics at 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 to gath­er at the AFD host­ed since 2018 as a major annu­al inter­na­tion­al finan­cial conference.

This year’s event focus­es on five top­ics, includ­ing the Astana Inter­na­tion­al Finan­cial Center’s (AIFC) prod­ucts, juris­dic­tion and reg­u­la­tion, inno­va­tions and capa­bil­i­ties, green growth, and cap­i­tal markets.

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

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

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

The pilot involved five cryp­to-exchanges, Binance, Ataix, Inte­bix, Xig­nal и Upbit, and eight Kazakhstan’s STBs: 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 that will include a dis­cus­sion with acad­e­mia and indus­try experts on trends and chal­lenges, the over­all pic­ture of the indus­try, and its future outlook.

Cryp­tomar­ket cap­i­tal­iza­tion glob­al­ly 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 pre­vent­ing finan­cial crime will also be up for dis­cus­sion dur­ing AFD, with experts offer­ing their views in anoth­er pan­el session.

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

Oppor­tu­ni­ties in the AIFC for invest­ing in emerg­ing mar­kets will also be high on the agen­da. The num­ber of asset man­age­ment com­pa­nies in the AIFC has increased from six to around 30 since the begin­ning of 2022, and that num­ber is show­ing steady growth.

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

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



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *