Kazakhstan's authorities have taken significant measures against illegal cryptocurrency operations, blocking over 3,500 exchanges to fight money laundering.
Massive Efforts on Blocking
According to a recent press release from the AFM RK, in 2024, the regulator liquidated 36 illegal crypto platforms with a combined turnover of 60 billion tenge. Alongside the National Security Committee and the Ministry of Culture and Information, access to over 3,500 unregulated platforms was blocked.
Asset Seizure and Pyramid Schemes
As part of this initiative, 4.8 million USDT was seized from these platforms. The government dismantled two crypto pyramid schemes, recovering 545,000 USDT and freezing an additional 120,000 USDT linked to fraudulent operations.
International Cooperation and Regulatory Measures
AFM RK continues to collaborate with international partners and improve transaction monitoring tools. New regulations are being introduced to ensure compliance with anti-money laundering laws by digital asset providers.
Kazakhstan's active stance in combating illegal cryptocurrency operations is essential given the growing threats of money laundering and financial crimes.
