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#Ingvarr is privileged to be the speaker at the 1 International Blockchain Regulation Conference in Astana, Kazakhstan

#Ingvarr is privileged to be the speaker at the 1 International Blockchain Regulation Conference in Astana, Kazakhstan.
The conference gathered together over 600 participants, among them experts, ministers and representatives of various state bodies of the Republic of Kazakhstan as well as large national companies, research institutions, universities, foreign and local IT, telecom, energy, consulting companies, etc.

The question of best practices developed so far all over the world in terms of DLT and cryptocurrencies regulations is the most crucial. Established in 2015 the Astana International Financial Centre (#AIFC), being planned as a financial hub for the countries of Central Asia, the Caucasus, Eurasian Economic Union (EAEU), Middle East, Western China, Mongolia and Europe, is now taking active steps towards regulating virtual currencies and digital assets. A series of open and closed discussions with experts, business and state representatives took place at the conference.

It is worth noting that the AIFC’s legal framework is expected to come into force by the end of June 2018 — July 2018. It will be based on the principles, norms and precedents of English law and standards of the leading international financial centres. Justice based on English law in AIFC will be rendered by independent AIFC’s Courts. International level judges of AIFC’s Court will have exclusive jurisdiction over disputes between the AIFC’s participants, its bodies and/or their foreign employees, disputes relating to operations carried out in the AIFC and regulated by the law of the AIFC, disputes transferred to the AIFC’s courts by agreement of the parties, except criminal and administrative proceedings.

Some companies and individuals being AIFC participants will also enjoy preferential tax regime (which is zero till 2066).

As we see by establishing the AIFC Kazakhstan dedicates a lot of time and efforts to become in the future one of the most attractive jurisdictions at least in the Central Asia in such major strategic directions as: Capital markets, Asset Management, Islamic finance, Fintech (including blockchain), Private banking and Green finance.