Article 7. Control and supervision of the activities of operators of the digital financial assets platform, operators of the digital assets trading platform of the Law on Digital Assets in the Republic of Kazakhstan
1. In order to control and supervise the digital financial assets market, the National Bank of the Republic of Kazakhstan carries out verification and other forms of control (supervision) over the activities of operators of the digital financial assets platform and operators of the digital assets trading platform.
2. Inspections and other forms of control (supervision) regarding the activities of operators of the digital financial assets platform, operators of the digital assets trading platform are carried out in accordance with the procedure for organizing and exercising control and supervision of the financial market and financial organizations established by the laws of the Republic of Kazakhstan and the financial legislation of the Republic of Kazakhstan.
3. The National Bank of the Republic of Kazakhstan, when detecting violations of the legislation of the Republic of Kazakhstan on matters within its competence, applies limited measures of influence and sanctions against the operator of the digital financial assets platform, the operator of the digital assets trading platform in accordance with the requirements of this Law and other laws of the Republic of Kazakhstan.
4. With regard to operators of the digital financial assets platform, operators of the digital assets trading platform, the National Bank of the Republic of Kazakhstan applies the following types of limited measures of influence for violating the requirements of the legislation of the Republic of Kazakhstan on digital assets in the Republic of Kazakhstan, on countering the legalization (laundering) of proceeds from crime, financing terrorism and financing the proliferation of weapons of mass destruction, on the securities market papers:
1) sending a mandatory written order;
2) issuing a written warning;
3) drawing up a written agreement.
The procedure for applying limited impact measures to the operator of the digital financial assets platform, the operator of the digital assets trading platform, as well as the grounds for choosing the type of limited impact measure used are determined by a regulatory legal act of the National Bank of the Republic of Kazakhstan.
5. The operator of the digital financial assets platform, the operator of the digital assets trading platform are excluded from the register of digital financial assets platform operators, the register of digital assets trading platform operators for any of the following reasons:
1) the decision of the operator of the digital financial assets platform, the operator of the digital assets trading platform, to voluntarily terminate its activities through reorganization or liquidation;
2) the court's decision to terminate the activities of the operator of the digital financial assets platform, the operator of the digital assets trading platform;
3) non-compliance with the requirements for senior staff and (or) participants (shareholders) of the operator of the digital financial assets platform, the operator of the digital assets trading platform;
4) systematic (three or more times within twelve consecutive calendar months) violation by the operator of the digital financial assets platform, the operator of the digital assets trading platform of the legislation of the Republic of Kazakhstan on issues within the competence of the National Bank of the Republic of Kazakhstan;
5) systematic (three or more times within twelve consecutive calendar months) failure by the operator of the digital financial assets platform, the operator of the digital assets trading platform to comply with the limited impact measures applied by the National Bank of the Republic of Kazakhstan;
6) failure by the operator of the digital financial assets platform, the operator of the digital assets trading platform in accordance with the registration of activities within twelve consecutive calendar months from the date of registration or termination of activities for a period of more than six consecutive calendar months;
7) non-compliance with the qualification requirements for the operator of the digital financial assets platform, the operator of the digital assets trading platform;
8) systematic (three or more times within twelve consecutive calendar months) failure by the operator of the digital financial assets platform or the operator of the digital assets trading platform to provide data (information) on their activities to the National Bank of the Republic of Kazakhstan;
9) systematic (three or more times within twelve consecutive calendar months) submission to the National Bank of the Republic of Kazakhstan by the operator of the digital financial assets platform, the operator of the digital assets trading platform of false data (information) on the activities carried out;
10) obstruction of control and supervision by the National Bank of the Republic of Kazakhstan in relation to the operator;
11) identification of false data (information) in the documents and (or) information submitted for registration.
6. In case of exclusion from the register of operators of the digital financial assets platform, the register of operators of the digital assets trading platform, the National Bank of the Republic of Kazakhstan shall, within five working days from the date of exclusion, notify the operator of the digital financial assets platform, the operator of the digital assets trading platform in writing and post the relevant information on its Internet resource.
The decision of the National Bank of the Republic of Kazakhstan to exclude the operator of the digital financial assets platform, the operator of the digital assets trading platform from the register of digital financial assets platform operators, the register of digital assets trading platform operators may be appealed in accordance with the procedure established by the laws of the Republic of Kazakhstan.
An appeal against the decision of the National Bank of the Republic of Kazakhstan, specified in part two of this paragraph, does not suspend its execution.
7. The operator of the digital financial assets platform, the operator of the digital assets trading platform is prohibited from providing services after receiving a written notification from the National Bank of the Republic of Kazakhstan on its exclusion from the register of operators of the digital financial assets platform, the register of operators of the digital assets trading platform.
8. The operator of the digital financial assets platform, the operator of the digital assets trading platform, within thirty calendar days from the date of receipt of a written notification from the National Bank of the Republic of Kazakhstan on the exclusion from the register of digital financial assets platform operators, the register of digital assets trading platform operators must:
1) to carry out state re-registration of a legal entity in connection with a name change in order to exclude the words "operator of the digital financial assets platform" or "operator of the digital assets trading platform" from its name, or to decide on the liquidation of the payment organization;
2) ensure the transfer of all data (information) recorded and stored on their digital platforms, including data (information) on issuers of digital financial assets, holders of digital financial assets and digital financial assets belonging to them, to another operator of the digital financial assets platform, the operator of the digital assets trading platform in accordance with the procedure determined by the National Bank Of the Republic of Kazakhstan.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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