Kazakhstan blocks illegal crypto exchanges to combat money laundering
Kazakhstan authorities have blocked over 3,500 illegal cryptocurrency exchanges in a move to address money laundering concerns.
According to a recent press release from the AFM RK, the country’s financial watchdog, the regulator liquidated 36 illegal crypto platforms in 2024 with a combined turnover of 60 billion tenge (roughly $112.84 million) and has blocked access to over 3,500 unregistered crypto trading platforms in collaboration with the National Security Committee and the Ministry of Culture and Information.
Citing an uptick in money laundering activities, the regulator said these exchanges lacked anti-money laundering measures and did not impose proper Know-your-customer protocols, making them a preferred…
