TechFlow news, January 8 — According to Finance Magnates, Kazakhstan's regulatory authority AFM RK announced that over 3,500 cryptocurrency exchanges operating illegally have been blocked. This action resulted from a joint effort between the National Security Committee and the Ministry of Information and Culture. In 2024, regulators liquidated 36 illegal crypto exchanges with a total trading volume reaching 60 billion Kazakhstani tenge (approximately $113 million), and froze assets worth 4.8 million USDT. AFM stated it is collaborating with international partners to strengthen oversight of cryptocurrency transactions, combat their use in criminal activities, draft legal amendments to hold digital asset providers accountable for money laundering, and enhance financial institutions' scrutiny of crypto-related transactions.
It was also reported that in 2023, authorities blocked access to Coinbase over suspected violations of digital asset laws.
