#Kazakhstan blocks 3,500 cryptocurrency exchanges#
Hot Topic Overview
Overview
Kazakh authorities have blocked over 3,500 illegally operating cryptocurrency exchanges, a result of a joint operation by the National Security Committee and the Ministry of Culture and Information. Previously, Kazakh authorities also blocked access to Coinbase, citing alleged violations of digital asset laws. In 2024, authorities liquidated 36 illegal cryptocurrency exchanges with a total transaction volume of 60 billion Kazakh tenge (approximately $113 million) and froze assets worth 4.8 million USDT. Additionally, authorities uncovered two cryptocurrency pyramid schemes, returning 545,000 USDT to victims and freezing 120,000 USDT held by the platforms. Kazakh regulators have stated that they are working with international partners to strengthen cryptocurrency trading regulations, combat its use in criminal activities, and develop legal amendments to hold digital asset providers accountable for money laundering. Financial institutions are also increasing scrutiny of cryptocurrency transactions.
Ace Hot Topic Analysis
Analysis
Kazakh authorities have blocked over 3,500 illegally operating cryptocurrency exchanges, the result of a joint operation by the National Security Committee and the Ministry of Culture and Information. Previously, Kazakhstan's regulator AFM RK had blocked access to Coinbase in 2023 for alleged violations of digital asset laws. In 2024, authorities liquidated 36 illegal cryptocurrency exchanges with a total turnover of 60 billion Kazakh tenge (about $113 million) and froze assets worth 4.8 million USDT. Additionally, authorities uncovered two cryptocurrency pyramid schemes, returning 545,000 USDT to victims and freezing 120,000 USDT held by the platforms. The AFM said it is working with international partners to strengthen cryptocurrency trading regulation, combat its use for criminal activities, and develop legal amendments to hold digital asset providers accountable for money laundering. Checks on cryptocurrency transactions by financial institutions have also been strengthened.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Kazakhstan government strengthens regulation of cryptocurrency transactions, cracking down on illegal trading and money laundering.
Kazakh authorities have taken action to block illegal cryptocurrency exchanges and hold digital asset providers accountable.
The Kazakhstan government is working with international partners to strengthen regulation of cryptocurrency transactions.
The Kazakhstan government is cracking down on cryptocurrency crime through measures such as liquidating illegal exchanges, freezing assets, and combating cryptocurrency Ponzi schemes.