Kazakhstan Liquidates 36 Illegal Crypto Exchanges
Kazakhstan has strengthened efforts to stop the country from being a hub of illegal crypto exchanges.
The crackdown started in 2024 as the government financial regulator, the Financial Monitoring Agency of the Republic of Kazakhstan, declared its intentions to eliminate all crypto platforms linked to money laundering.
Kazakhstan, once a popular country for Bitcoin mining, now contributes to less than 5% of BTC mining. This is the result of stricter regulations causing miners to leave the country.
Genesis of Kazakhstan Anti-Money Laundering Crackdowns
According to Kazakhstan’s Financial Monitoring Agency (FMA), illegal crypto exchanges act as intermediaries for criminals to swap from crypto…
