Kazakhstan shuts 130 crypto platforms, seizes $17M for illicit activity

Kazakhstan, an emerging cryptocurrency hub successful Central Asia, has been cracking down connected illicit enactment successful the cryptocurrency sector, shutting down dozens of crypto platforms this year.

Kazakhstan’s Financial Monitoring Agency (AFM) has taken down 130 crypto platforms progressive successful wealth laundering schemes this year, a spokesperson for the bureau told Cointelegraph connected Wednesday.

The authorities person besides seized $16.7 cardinal successful assorted cryptocurrencies linked to these amerciable operations, the AFM typical said, confirming section reports from Tuesday.

Last week, AFM besides reported seizing $642,000 from amerciable mining operations successful Kazakhstan, underscoring the country’s strict stance connected illicit crypto activities portion continuing to beforehand crypto adoption.

New AML measures for wealth transfers

As portion of the efforts to curb illicit fiscal activity, Kazakhstan is reportedly introducing caller requirements for wealth transfers.

According to AFM lawman president Kairat Bizhanov, each slope paper top-ups with an magnitude exceeding 500,000 tenge ($925) volition necessitate mandatory verification of the sender’s Individual Identification Number (IIN).

Kairat Bizhanov, lawman president of Kazakhstan’s Financial Monitoring Agency. Source: Sozmedia.kz

“Previously, lone the recipient’s IIN was required. Additionally, the anticipation to corroborate the transaction via a mobile app oregon SMS is being considered,” the authoritative said astatine a caller authorities meeting, the section quality bureau Baq.kz reported.

Kazakhstan took down 36 crypto platforms past year

Addressing the shutdown of 130 crypto platforms successful Kazakhstan this year, an AFM spokesperson emphasized that these platforms disagree from accepted centralized crypto exchanges (CEXs).

These platforms relation much similar accepted currency speech offices and are commonly referred to arsenic crypto exchangers.

The fig of crypto exchangers unopen down successful Kazakhstan saw a notable summation successful 2025, with the AFM reporting lone 36 specified platforms taken down past year.

An excerpt from AFSA’s nationalist registry of licensed integer plus work providers. Source: AFSA 

According to the nationalist registry of integer plus work providers maintained by the Astana Financial Services Authority (AFSA), 20 crypto platforms had been approved to run successful Kazakhstan arsenic of the clip of publication.

Among the approved providers, the registry includes large manufacture CEXs, including Bybit and WhiteBIT.

Related: CBDCs vs stablecoins: Kazakhstan says Evo not a rival to integer tenge

Kazakhstan’s efforts to combat illicit fiscal enactment successful cryptocurrency emerged amid the country’s attempts to found itself arsenic a large hub for cryptocurrency successful Central Asia.

The state has pioneered the outgo of regulatory fees successful stablecoins, specified arsenic Tether USDt (USDT), launched 1 of Central Asia’s archetypal spot Bitcoin (BTC) funds, and is moving to found a state-backed crypto reserve.

It remains unclear whether the seized $16.7 cardinal volition beryllium allocated to Kazakhstan’s imaginable crypto reserve, arsenic the government’s ineligible model for the reserve is inactive being finalized.

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