To undergo the registration process, an applicant intending to operate as a digital asset trading platform operator shall submit the following documents and information to the National Bank of the Republic of Kazakhstan through the National Bank’s chancery:
1. an application in the form prescribed by the National Bank of the Republic of Kazakhstan, including information on the head (members) of the executive body (with attached copies of diplomas and documents confirming the employee's work history in accordance with the Labor Code of the Republic of Kazakhstan);
2. a document confirming the payment of the charter capital, the minimum amount of which is established by the National Bank of the Republic of Kazakhstan;
3. Articles of association, except in cases where the applicant carries out activities under the standard Articles of association;
4. a document defining the procedure for interaction between the digital financial asset platform operator and the digital asset trading platform operator, a bank, and/or the National Postal Operator;
5. internal operating rules of the digital asset trading platform operator, approved by the applicant's governing body;
6. a document confirming the authority of the person to submit the application and the accompanying documents and information.
The National Bank shall make a decision on the accounting registration of the digital asset trading platform operator within 20 (twenty) working days from the date of submission of a complete package of documents.
Requirements:
1. a digital asset trading platform operator shall be established in the legal organizational form of a joint-stock company or a limited liability partnership.
2. the minimum charter capital for a digital asset trading platform operator shall be at least 200 000 000 (two hundred million) tenge.
3. requirements for the executive officers, founders, and participants (shareholders) of a digital asset trading platform operator are established in paragraphs 11, 12, and 13 of Article 6 of the Law of the Republic of Kazakhstan «On Digital Assets in the Republic of Kazakhstan».
4. the internal rules of a digital asset trading platform operator shall include, but are not limited to:
1) a description of services provided to clients;
2) the procedure for purchasing, selling, and exchanging digital assets on the operator's digital platform, as well as the procedure and timelines for settlement finality of transactions;
3) requirements and conditions for the redemption of digital assets, and the procedure for verifying the fulfillment of the digital financial asset issuer's obligations to asset holders;
4) cybersecurity compliance procedures;
5) terms and conditions for opening and maintaining digital asset wallets;
6) client identification and verification procedures;
7) addresses of the digital asset wallets used for business operations;
8) the list of unsecured digital assets permitted for circulation and the criteria for their selection;
9) limits and restrictions applicable to transactions with unsecured digital assets based on the client's qualification;
10) the procedure and mechanism for determining client qualification for digital asset transactions;
11) a business plan of the digital asset trading platform operator for the first 3 (three) financial (operational) years.
5. A digital asset trading platform operator shall submit to the National Bank the protocol (results) of the digital object testing for compliance with cybersecurity requirements at least 10 (ten) working days prior to the commencement of digital asset trading on the platform.
