Panel on Crypto Regulation at the Astana Finance Days

In June 2023, our partners Ainur Zhanturina and Dr. Jochen Biedermann travelled to Astana to participate in the Astana Finance Days, Kazakhstan's premier annual financial conference hosted by the Astana International Financial Centre (AIFC). The event brought together financial sector leaders, investors, and policymakers from across Central Asia and international markets.

Dr. Biedermann moderated a high-profile panel: "Future of Crypto Regulation: Discussion with Experts Representing Academia and Industry." The panel brought together seven panelists from regulatory bodies, crypto exchanges, academic institutions, and digital asset investment firms to discuss the rapidly evolving global regulatory landscape for cryptocurrencies and digital assets. The timing was significant — the panel took place in the aftermath of the Terra/Luna collapse and the FTX scandal, which had fundamentally changed the tone of regulatory debate worldwide.

The panel examined approaches being taken in key jurisdictions — including the EU with MiCA, the UAE under VARA, Hong Kong's new virtual asset licensing regime, and the United States — and their implications for financial centers in Central Asia seeking to position themselves as credible digital asset hubs.

Kazakhstan has emerged as a notable player in the global crypto landscape, having attracted a significant share of global Bitcoin mining capacity following China's 2021 crackdown. The AIFC has worked actively to develop a framework for digital asset regulation that can support the growth of a legitimate, well-governed crypto ecosystem within the country.

Ainur Zhanturina, FinTech Consult's partner for Kazakhstan, provided invaluable local context and insights on the specific opportunities and challenges facing companies operating in the Kazakhstani digital asset space.