Article 40-2. Registration of transactions with digital financial assets and confirmation of their rights under the Securities Market Act

Home / Laws / Article 40-2. Registration of transactions with digital financial assets and confirmation of their rights under the Securities Market Act

1. Transactions with digital financial assets, as well as assignment of rights (claims) on obligations of issuers of digital financial assets are subject to:

registration in the accounting system of holders of digital financial assets of the operator of the digital financial assets platform in relation to digital financial assets issued on such a digital platform;

to be reflected in the Central securities depository's system of registers of holders of securities and digital financial assets.

2. The confirmation of rights on digital financial assets is carried out by submitting information regarding the holder of a digital financial asset from the digital asset holders accounting system of the operator of the digital financial assets platform and (or) the central securities depository accounting system. In this case, the information contained in the central depository's accounting system takes precedence.

3. The procedure for registration of transactions with digital financial assets in the system of accounting for holders of digital financial assets and the reflection of these transactions in the system of registers of holders of securities and digital financial assets of the central securities depository, the specifics of accounting for rights to digital financial assets, the conditions and procedure for confirming rights to digital financial assets, as well as the procedure and features of registration of collateral rights to digital financial assets are established by a regulatory legal act of the authorized body and a set of rules of the central securities depository.

The Law of the Republic of Kazakhstan dated July 2, 2003 No. 461.

 This Law regulates public relations arising in the process of issuing, placing, circulating and redeeming equity securities and other financial instruments, the specifics of the creation and operation of securities market entities, defines the procedure for regulating, controlling and supervising the securities market in order to ensure the safe, open and effective functioning of the securities market, and the protection of investors' rights. and holders of securities, fair competition of securities market participants.

President

Republic of Kazakhstan

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