{"id":593,"date":"2024-07-02T11:09:23","date_gmt":"2024-07-02T08:09:23","guid":{"rendered":"https:\/\/bepartners.kz\/?page_id=593"},"modified":"2024-11-01T13:43:57","modified_gmt":"2024-11-01T10:43:57","slug":"digital-exchange-aifc","status":"publish","type":"page","link":"https:\/\/bepartners.kz\/en\/international-financial-center-astana\/digital-exchange-aifc\/","title":{"rendered":"Open a licence for digital exchange AIFC"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text text_larger=”no”]<\/p>\n

Open a licence for digital exchange AIFC<\/a><\/p>\n

Obtaining a full license to operate a cryptocurrency exchange with obtaining two licenses Digital Assets Trading Facility and Providing Custody<\/p>\n

To obtain permission to open a cryptocurrency exchange on the territory of the International Financial Center Astana requires two types of licenses and a certain number of internal regulatory documents governing both the activity itself and interaction with the financial regulator.<\/p>\n

The procedure of obtaining these licenses is very capacious and time-consuming. It will be necessary to fulfill more than 50 points of business policies and business rules. Special attention is required to be paid to appointees such as MLRO and Compliance officer, CEO and Controllers.<\/p>\n

Our lawyers have already successfully faced these tasks and passed the authorization procedure in the Financial Regulator AIFC.<\/p>\n

Call us and get professional advice on how to Open digital exchange AIFC<\/a><\/strong><\/p>\n

mobile 87052929099<\/strong><\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_separator][vc_column width=”1\/2″][vc_column_text text_larger=”no”]<\/p>\n

Operating a Digital Asset Trading Facility<\/strong><\/p>\n

Operating a Digital Asset Trading Facility<\/strong>\u00a0means operating a facility which functions regularly and brings together multiple parties (whether as principal or agent) with a view to the entering into of contracts:<\/p>\n

(a) to buy, sell or exchange Digital Assets for a Fiat currency; and\/or<\/p>\n

(b) to exchange one Digital Asset for another Digital Asset, in its Facility, in accordance with its non-discretionary rules.; and\/or<\/p>\n

(c) to buy, sell or exchange Digital Assets for a commodity.<\/p>\n

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Open digital exchange AIFC <\/a><\/p>\n

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____________________________________________________________________________________<\/p>\n

General requirements<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n
Requirements<\/strong><\/p>\n
\n<\/td>\n		Minimum threshold<\/strong><\/p>\n
\n<\/td>\n<\/tr>\n
Authorisation Fee (paid once)<\/td>\n70\u00a0000 USD<\/p>\n

*According to\u00a0<\/em>AIFC Fees Rules<\/em><\/a>, the application may not be regarded by the AFSA as submitted, and therefore ready to be reviewed, until the fee has been paid in full.<\/em><\/p>\n

Therefore, when the application is ready for submission, please send us a completed request for invoice (please follow the link to download the form) and after that we will issue the invoice for payment. If the payment to be made by a natural person, then please provide a copy of his\/her ID as well.<\/em><\/td>\n<\/tr>\n

\n
\n

Registration Fee (paid once)<\/td>\n

\n
\n

Registration fee is 300 USD (paid once) if you apply via the self-service portal and 500 USD (paid once) if you apply on paper via\u00a0registration@afsa.kz<\/a>.<\/td>\n<\/tr>\n

\n
\n

Supervision Fee (annually)<\/td>\n

\n
\n

fixed fee 25,000 USD paid on a yearly basis and variable fee paid on a quarterly basis.<\/td>\n<\/tr>\n

\n
\n

Prudential requirement<\/td>\n

\n
\n

Digital Asset Trading Facility Operator must hold the following minimum capital:<\/p>\n

The higher of (i) 200,000 or (ii) an amount equal to sufficient working capital in fiat currency to continue business for a period of 12 months, based on realistic forecasts for the business in different market conditions (both negative and positive scenarios)<\/p>\n

*AIFC Rules on Digital Asset Activities (DAA)<\/a><\/em>\u00a02.2<\/td>\n<\/tr>\n

\n
\n

Appointment of Internal and External Auditor<\/td>\n

\n
\n

Required<\/strong><\/p>\n

*AIFC General Rules 5.5.1.<\/em><\/a><\/p>\n

*AIFC Financial Services Framework Regulations 109.<\/a><\/em><\/p>\n

*AIFC Rules on Digital Asset Activities (DAA) 2.4.9<\/a>\u00a0<\/em>on a mandatory third-party audit of technology governance and IT systems<\/em><\/td>\n<\/tr>\n

\n
\n

Organisational structure<\/td>\n

\n
\n
    \n
  • Appointment of a Board of Directors<\/li>\n
  • Appointment of approved and designated individuals (SEO, Finance Officer, Compliance Officer, MLRO, CITO)<\/li>\n
  • Appointment of committees within the company (Risk Committee, Investment Committee, Compliance Committee etc.)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
\n
\n

Policies and Procedures<\/td>\n

\n
\n
    \n
  • AML Policy<\/li>\n
  • Compliance Manual<\/li>\n
  • Compliance Monitoring Program<\/li>\n
  • Risk Management Policy<\/li>\n
  • Remuneration Policy<\/li>\n
  • Outsourcing Policy<\/li>\n
  • Business Continuity Plan\/Disaster Recovery Plan<\/li>\n
  • Conflict of Interest<\/li>\n
  • Internal Audit Policy<\/li>\n
  • Code of Conduct<\/li>\n
  • Business Rules<\/li>\n
  • Cyber-security Policy<\/li>\n
  • Membership Rules<\/li>\n
  • Admission to Trading Rules<\/li>\n
  • Systems and controls in respect of technology governance<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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