Once signed into law, the Kazakh government will essentially discharge the most significant regulatory responsibilities in the betting industry to an unknown entity.
A bill that will create a new regulator in the Kazakh betting market passed at the last minute by the country’s parliament, the Mazhilis, and looks to be on the verge of becoming a reality.
The legislation, which lays out the parliament’s attempt to introduce a new third-party regulator has faced opposition from the industry in recent months. Despite protests, the bill was agreed before the end of the parliamentary session on June 5, 2024.
The bill details that a new regulator, known as the “Unified Accounting System” (UAS), will control all money market operations, have the power to veto participants in the market, and take up to 1.5 percent
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