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The ARDFM of Kazakhstan is going to prohibit banks from processing payments to crypto exchanges that are not members of the AIFC. This is stated in the regulator's decree.
The restrictions will affect transactions in favor of electronic and online casinos. Operators will not be able to accept transfers from persons under 21 years of age, according to the document "On Amendments to Certain Regulatory Legal Acts of the Republic of Kazakhstan on the Regulation of the Activities of Financial Organizations".
The draft is published for public discussion until October 30, 2024.
Among other things, control over bank customers who have more than five payment cards is being tightened. For them, it is planned to introduce restrictions on transactions - no more than three payments or transfers for a total amount of up to 100 thousand tenge per month, if transactions are carried out in favor of digital exchanges not registered in the AIFC.
If a client of a financial institution conducts a one-time transaction in the amount of more than $1000 with a crypto exchange that is a member of the AIFC, the bank is obliged to conduct an enhanced verification of the origin of funds, study transactions with money, and prevent illegal withdrawal of funds abroad, including offshores.
Source
The restrictions will affect transactions in favor of electronic and online casinos. Operators will not be able to accept transfers from persons under 21 years of age, according to the document "On Amendments to Certain Regulatory Legal Acts of the Republic of Kazakhstan on the Regulation of the Activities of Financial Organizations".
The draft is published for public discussion until October 30, 2024.
Among other things, control over bank customers who have more than five payment cards is being tightened. For them, it is planned to introduce restrictions on transactions - no more than three payments or transfers for a total amount of up to 100 thousand tenge per month, if transactions are carried out in favor of digital exchanges not registered in the AIFC.
If a client of a financial institution conducts a one-time transaction in the amount of more than $1000 with a crypto exchange that is a member of the AIFC, the bank is obliged to conduct an enhanced verification of the origin of funds, study transactions with money, and prevent illegal withdrawal of funds abroad, including offshores.
Source
