Digital Financial Assets in the AIFC: New Issuance Requirements - FCHAIN

Digital Financial Assets in the AIFC: New Issuance Requirements

Kazakhstan is developing new rules governing admission to the issuance of digital financial assets (DFAs) within the Astana International Financial Centre (AIFC). A draft joint resolution of the National Bank of the Republic of Kazakhstan and the Agency for Regulation and Development of the Financial Market proposes establishing requirements for financial institutions and residents of Kazakhstan, as well as procedures for admitting AIFC participants to issue such assets. The public consultation on the draft will continue until October 23, 2026. The proposed amendments aim to develop the regulatory framework for the digital asset market, integrate it into the country’s financial system, and strengthen investor and client protection.

 

What Requirements Are Proposed for the Issuance of Digital Financial Assets?

The draft provides for the approval of two regulatory documents governing admission to the issuance of digital financial assets within the AIFC.

1. Requirements for Financial Institutions and Residents of the Republic of Kazakhstan

The first document will establish the conditions under which financial institutions and residents of Kazakhstan may be admitted to issue digital financial assets within the AIFC. The proposed regulatory framework is intended to provide a basis for assessing whether applicants meet the requirements for conducting such activities. This is particularly relevant for organizations considering the issuance of DFAs and planning to operate within the AIFC’s financial infrastructure.

2. Rules for Admitting AIFC Participants to Issue Digital Financial Assets

The second document will regulate the procedure for admitting AIFC participants to issue digital financial assets on the digital platform operated by a digital financial asset platform operator. Thus, the draft addresses both the requirements applicable to organizations intending to issue digital financial assets and the procedures for admitting AIFC participants to conduct such activities. However, the published explanatory materials do not specify the particular eligibility criteria, the list of documents required from applicants, or the application processing timelines. These matters require further examination of the full text of the proposed regulations.

 

Objectives of the New Digital Financial Asset Regulations

According to the explanatory materials, the adoption of the resolution is expected to facilitate the integration of the digital asset market into Kazakhstan’s unified financial system while enhancing the protection of investors and clients. The draft was developed to implement paragraph 13 of Presidential Decree No. 1042 dated October 13, 2025, “On Measures to Implement the Address of the Head of State to the People of Kazakhstan dated September 8, 2025, ‘Kazakhstan in the Era of Artificial Intelligence: Current Challenges and Their Solutions Through Digital Transformation.'” An additional legal basis is the Law of the Republic of Kazakhstan dated January 16, 2026, “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning the Regulation and Development of the Financial Market, Communications, and Bankruptcy.” The proposed amendments form part of the ongoing development of the regulatory framework for digital financial instruments. Establishing requirements for market participants and admission procedures is intended to create clearer legal conditions for issuing DFAs within the AIFC. The explanatory materials also state that the adoption of the draft is not expected to result in adverse socioeconomic, legal, or other consequences. The anticipated outcomes of the proposed measures are expected to follow the resolution’s entry into force.

 

What Companies and AIFC Participants Should Consider

For financial institutions, Kazakhstan residents, and AIFC participants considering the issuance of digital financial assets, the proposed amendments are particularly relevant in terms of legal preparation for such activities. Companies are advised to consider the following matters:

1. Compliance with Admission Requirements. Once the regulatory documents are approved, organizations will need to determine whether the established requirements apply to their specific business activities and proposed operations.
2. DFA Issuance Procedures. AIFC participants will need to comply with the approved admission procedures for issuing assets on the relevant operator’s digital platform.
3. Legal Documentation. When preparing to issue DFAs, companies should review their existing corporate documents, contractual arrangements, and internal procedures in light of applicable regulatory requirements.
4. Monitoring Legislative Developments. As the resolution remains in draft form, organizations should consider the possibility of further amendments before its final adoption.

An early assessment of the legal requirements will enable companies to identify the organizational and documentation measures necessary to conduct their activities once the new regulations enter into force.

 

FChain Legal and Accounting Services for Businesses

The development of digital financial asset regulations within the AIFC highlights the importance of legal and organizational preparation for companies planning to operate in this sector. Businesses need to assess applicable regulatory requirements, ensure proper documentation, and identify potential legal risks. FChain provides comprehensive legal, accounting, and consulting services to businesses in Kazakhstan, including support for organizations operating within the AIFC. The following services are particularly relevant when preparing for the new requirements:

• Legal services — legal consultations on Kazakhstan’s legislation and applicable regulatory requirements governing business activities.
• Legal audit — review of corporate documents, contracts, and internal procedures to identify legal risks and assess compliance with regulatory requirements.
• Drafting contracts — preparation and legal review of contracts, taking into account the company’s business activities and applicable legislation.
• Registration of companies — assistance with company registration in Kazakhstan and preparation of the necessary corporate documentation.
• Market Entry in Kazakhstan — Comprehensive Business Support — legal and organizational support for companies planning to establish operations in the Kazakhstan market.
• Accounting and tax services — bookkeeping, preparation of financial statements, and management of accounting processes in accordance with applicable requirements.

The proposed regulation of digital financial asset issuance is intended to establish clearer operating conditions for market participants and strengthen investor protection. For organizations interested in issuing DFAs within the AIFC, assessing admission requirements and preparing the relevant documentation are particularly important. FChain provides professional support in legal, corporate, and accounting matters, enabling businesses to structure their operations in accordance with existing legislation and anticipated regulatory changes.

 

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Prepared by: Anel Kosmaganbetova

Assistant to the Director

FChain Kazakhstan

 📩almaty@f-chain.com
WhatsApp: +7 771 214 1820