Kazakhstan's financial regulator has intensified efforts to curb illegal cryptocurrency activities, blocking over 3,500 platforms in collaboration with government bodies.
Combatting Illegal Operations
Kazakh authorities, in collaboration with the National Security Committee and the Ministry of Culture and Information, blocked more than 3,500 unregistered cryptocurrency exchanges. These actions aim to combat money laundering and other crimes often facilitated by cryptocurrencies. The lack of AML measures and KYC protocols allowed criminal activities to flourish.
Confiscation and Closure of Illegal Platforms
The regulator announced the closure of 36 illegal platforms, with a turnover of 60 billion tenge. Authorities confiscated 4.8 million USDT. Also, two crypto pyramid schemes were dismantled, recovering 545,000 USDT and freezing an additional 120,000 USDT.
Regulation and International Collaboration
Kazakhstan is actively promoting a regulated cryptocurrency ecosystem. The AFM RK plans to introduce stricter regulations to ensure compliance with AML laws. International collaboration is emphasized to enhance transaction monitoring and hold violators accountable.
Kazakhstan continues its active fight against crypto-related crime while striving to create a safe and regulated environment for legal digital assets.
