Kazakhstan blocked 980 non-licensed crypto exchanges in 2023

This yr, Kazakhstan’s Monetary Monitoring Company (AFM) blocked entry to virtually a thousand crypto exchanges that had been serving the nation’s residents with out correct registration. 

Based on the press launch from Dec. 7, revealed on the federal government’s web site, the AFM denied entry to 980 unlawful platforms in 2023. It additionally launched 9 investigations into “unlawful trade operations” and cash laundering. This info was revealed by the chairman of the AFM, Ruslan Ostroumov, throughout the assembly of the Eurasian Group on Combating Cash Laundering in China.

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The Digital Property Legislation, which got here into impact in February 2023, prohibits the creation and buying and selling of digital currencies and cryptocurrency trade actions except a nationwide license is obtained. The Astana Worldwide Monetary Heart (AIFC), functioning as a particular financial zone in Kazakhstan, is accountable for granting preliminary approval for operations.

The checklist of exchanges blocked because of the absence of a nationwide license contains some main worldwide platforms. In November, it grew to become recognized that Kazakh residents had been unable to entry the Coinbase web site after this was blocked by an order from the Ministry of Tradition and Info. Ministry representatives defined to journalists that the request got here from a distinct authorities physique, the Ministry of Digital Growth, which accused Coinbase of violating the Legislation on Digital Property.

Up to now, Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit and Xignal&MT have been permitted to function within the nation.

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