Sandbox / NB of KZ
Legal framework
Holdmark operates in the jurisdiction of the Republic of Kazakhstan under the regulation of the National Bank of the Republic of Kazakhstan, within a special regulatory regime.
Regulatory basis
- Law of the Republic of Kazakhstan “On Digital Assets in the Republic of Kazakhstan” No. 193-VII of 6 February 2023
- Law of the Republic of Kazakhstan “On the National Bank of the Republic of Kazakhstan” No. 2155 of 30 March 1995 — as regards the special regulatory regime
- Law of the Republic of Kazakhstan “On the Securities Market” No. 461-II of 2 July 2003
- Law of the Republic of Kazakhstan “On State Regulation, Control and Supervision of the Financial Market and Financial Organisations” No. 474-II of 4 July 2003
- Law of the Republic of Kazakhstan “On Counteracting the Legalisation (Laundering) of Criminally Obtained Income and the Financing of Terrorism” No. 191-IV of 28 August 2009
- Law of the Republic of Kazakhstan “On Personal Data and Its Protection” No. 94-V of 21 May 2013
Valuation methodologies for every asset type are agreed with the National Bank of the Republic of Kazakhstan.