AIFC \u00b7 DIGITAL ASSETS<\/p>\n
Bond Stone advises digital asset service providers, cryptocurrency exchanges, stablecoin issuers, and tokenisation platforms on AFSA licensing within the AIFC \u2014 from initial strategy and entity formation through application preparation, AFSA liaison, and post-licence compliance.<\/p>\n
The AIFC has one of the most developed digital asset regulatory frameworks in the CIS region. In 2025, the AIFC was recognised by IOSCO as one of the leading jurisdictions implementing global standards for crypto and digital asset markets. AFSA supervised 9 Digital Asset Service Providers under the full regulatory framework, with DASPs generating a total transaction volume of USD 10.58 billion and approximately 215,000 users.<\/p>\n
Governed by: AIFC Rules on Digital Asset Activities (as amended 13 April 2025, commencing 13 October 2025); AFSA Fees Rules (as amended 1 December 2025); AIFC Financial Services Framework Regulations. Authority: afsa.aifc.kz<\/a><\/p>\n DASP \u2014 Digital Asset Service Provider<\/p>\n Covers dealing in, managing, providing custody of, exchanging, or transferring digital assets. Applies to crypto brokers, custodians, wallet service providers, and OTC desks. Additional AFSA application fee: USD 2,800. Min. capital: USD 10,000\u2013200,000 depending on activity.<\/p>\n Additional fee: USD 2,800<\/p>\n<\/p><\/div>\n DATF \u2014 Digital Asset Trading Facility<\/p>\n Market Activity licence for operating a centralised exchange where multiple parties buy, sell, or exchange digital assets for fiat or other digital assets. The most capital-intensive digital asset licence. Variable supervision fee capped at USD 250,000 (effective 1 December 2025).<\/p>\n Min. capital: USD 200,000 or 12-month working capital<\/p>\n<\/p><\/div>\n Stablecoin Issuer<\/p>\n Dedicated AFSA framework for issuers of stablecoins \u2014 digital assets whose value is pegged to a currency, commodity, or financial instrument. Reserve and disclosure requirements apply. Framework effective 1 January 2024.<\/p>\n Framework: effective 1 January 2024<\/p>\n<\/p><\/div>\n STO \u2014 Security Token Offering<\/p>\n Framework for issuance of security tokens \u2014 digital representations of shares, bonds, or fund units. Subject to AIFC prospectus and disclosure rules. Bond Stone advises on STO structuring and AFSA filing strategy.<\/p>\n Framework: effective 1 January 2024<\/p>\n<\/p><\/div>\n FinTech Lab \u2014 Regulatory Sandbox<\/p>\n Pre-licence testing environment. FinTech Lab licence issued for up to 2 years. Participants must complete migration to the full AFSA supervisory regime by end of 2026. AML\/CTF obligations apply from day one regardless of sandbox status.<\/p>\n Migration deadline: end of 2026<\/p>\n<\/p><\/div>\n AFSA Discontinuance<\/p>\n Voluntary surrender of an AFSA digital asset licence. Requires formal AFSA application, wind-down plan, client notification, and regulatory exit documentation. Bond Stone has managed AFSA discontinuance mandates for international digital asset exchanges.<\/p>\n Active discontinuance experience<\/p>\n<\/p><\/div>\n<\/div>\n
\nDigital Asset Licence Categories<\/h2>\n
\nApplication Process<\/h2>\n