Kazakhstan has intensified its regulatory enforcement against the digital asset sector, blocking access to over 1,100 unlicensed online cryptocurrency exchange services, the country’s Agency for Financial Monitoring (AFM) reported. In a briefing to President Kassym-Jomart Tokayev on Tuesday, AFM Chairman Zhanat Elimanov detailed the agency’s 2025 operations, highlighting a sweeping campaign to curb the “shadow economy.” “We have neutralized 22 shadow cryptocurrency exchanges and blocked over 1,100 illegal online exchange services,” the AFM stated. The crackdown also targeted the infrastructure used for illicit cash-outs, with authorities blocking approximately 20,000 bank cards used as “drops” to legalize criminal funds.
Under Kazakhstan’s Digital Assets Law, cryptocurrency exchanges are prohibited from operating unless licensed by the Astana Financial Services Authority (AFSA) within the Astana International Financial Centre (AIFC).
While major global platforms like Binance and Bybit have secured local authorization, the government continues to aggressively target non-compliant entities to prevent capital flight and money laundering.
The crackdown follows a broader trend in the region, with the AFM previously shutting down nearly 1,000 unlicensed platforms in late 2023. The regulator emphasized that monitoring will remain strict as the country seeks to balance its role as a global mining hub with robust financial oversight.
Source:https://crypto.news/kazakhstan-blocks-1100-unlicensed-crypto-exchanges-in-crackdown/