Article 5. Requirements for secured digital assets The Law on Digital Assets in the Republic of Kazakhstan

Home / RLA / Article 5. Requirements for secured digital assets The Law on Digital Assets in the Republic of Kazakhstan

1. A secured digital asset must meet the following requirements:

1) certifies the right to tangible, intellectual services and assets, with the exception of money and securities;

2) has a decision to issue a secured digital asset;

3) it is not a monetary unit of account, legal tender;

4) is not recognized as a financial instrument or a financial asset;

5) contains information about the person who issued the secured digital asset;

6) has proof of ownership and (or) intellectual rights to the asset prior to its formation as a secured digital asset;

7) has a record in the blockchain network about the movement of an asset and (or) the right to property.

2. A digital asset that does not meet the requirements specified in paragraph 1 of this article does not belong to secured digital assets.

President

Republic of Kazakhstan