EXPO-2017 site can become crypto harbor - AIFC Governor
"We suppose that the entire EXPO site can become somewhat a crypto valley or a crypto harbor. It has generated intense interest worldwide. The AIFC will be on the edge of cryptoeconomics and responsible for financial stability and regulation of financial institutes at the same time," Mr. Kelimbetov said at a press conference at the Government on Wednesday.
Earlier, President of Kazakhstan Nursultan Nazarbayev announced that the AIFC headquarters will be located at the EXPO site after the International specialized exhibition EXPO-2017 wraps up.
Established on the initiative of President Nursultan Nazarbayev, the AIFC is a part of the National Plan "100 specific steps" on implementation of five institutional reforms aimed at long-term development.
AIFC's special status is enshrined in the Constitution and the Constitutional Law of the Republic of Kazakhstan. For the first time in the CIS, the AIFC will be guided by principles, norms and precedents of England and Wales' law and standards of the leading international financial centers (in London, New York, Hong Kong, Singapore, Dubai and more).
The AIFC's mission is to create a world-class financial services center, attract investment into Kazakhstan's economy by creating favorable environment for investors, develop securities market and ensure its integration in international capital markets. The AIFC also plans to develop domestic insurance and banking services market as well as the market of Islamic financing.