Subscription of Cooperation Agreement with AFSA

Suscripción de Acuerdo de Cooperación con AFSA

Faithful to the commitment of the Public Administration to turn El Salvador into a stable, efficient and innovative financial center, the National Commission for Digital Assets (CNAD), on November 10, 2023, signed a Cooperation Agreement with the Financial Services Authority Astana (AFSA), Kazakhstan’s financial regulatory entity whose purpose is the latest international cooperation, through the signing of bilateral and multilateral agreements, always maintaining the mission of being a reliable financial services regulator, which is aligned with the mission, vision and values ​​that have governed CNAD since its birth.

AFSA is a regulatory entity of great scope and scope, which covers the supervision of various sectors, such as banking, insurance, capital markets, Fintechs and companies that offer complementary services. Among AFSA’s achievements, it is worth highlighting the active participation and involvement in the structuring of the largest initial public offering in the history of Kazakhstan in 2022, managing to raise capital of 326 million dollars from the United States of America.

The aforementioned agreement is consistent with the CNAD’s objective of always seeking continuous improvement and growth for the effective regulation of digital asset market operations and thus ensuring that its services are always of world quality for its supervised parties and users. One of the main goals being to raise the Commission’s standards to levels of international recognition.

The signing of the cooperation agreement between the CNAD and AFSA will promote the integrity, efficiency and financial soundness of the supervised entities, improving effective regulation, strengthening the supervision of cross-border transactions and creating an environment conducive to the prevention of fraudulent and other practices. . prohibited, including the prevention of money laundering and the financing of terrorism, in the AIFC and El Salvador.