Kazakhstan Limits Crypto for Retail Users

According to a report on Kapital.kz, limits on the purchase of crypto have been approved and is already being enforced. This limit is designed for retail investors. This limit was proposed at the end of July 2021, by the Financial Services Regulatory Committee of the Astana International Financial Center.

The Astana Financial Services Authority (AFSA) specified that at the moment there are two types of limits for retail investors:

• the total limit on the purchase of cryptocurrency for retail investors is set at $1,000 without confirmation of income and assets within one month;

• you can buy digital assets worth more than $1,000 per month with confirmation of income and assets in an amount not exceeding less than: 10% of annual income or 5% of the value of all assets of a retail investor (excluding the cost of basic housing), but not more than $100,000.

The supposed reason for the introduction of these limits are to “protect the interests of retail investors, as transactions with digital assets involve high risks, up to the complete loss of invested capital.” -AFSA