Kazakhstan is intensifying its efforts to create a safe crypto market by shutting down illegal exchanges. Recently, 36 such platforms were closed.
Combating Illegal Exchanges in Kazakhstan
The Financial Monitoring Agency of Kazakhstan announced the shutdown of illegal crypto exchanges as part of its efforts to fight economic crimes like money laundering.
Arrests and Asset Seizures
During the crackdown, assets valued at approximately $4.8 million were seized. These exchanges had a combined transaction volume of around $112.8 million.
JUST IN: KAZAKHSTAN BLOCKS ACCESS TO 3,500 “ILLEGAL” CRYPTO EXCHANGES DUE TO ALLEGED VIOLATIONS OF DIGITAL ASSET LAWS
Crypto Industry Prospects in Kazakhstan
Kazakhstan opens its doors to legitimate crypto platforms like Binance and plans to roll out its digital tenge in 2025.
Kazakhstan continues to actively regulate the crypto industry, aiming for a stable and secure market for digital assets.
