Kazakhstan blocked 980 unlicensed crypto exchanges in 2023

Kazakhstan’s Financial Monitoring Agency (FMA) blocked access to almost a thousand crypto exchanges working without proper registration in 2023.

A press release published on the government’s website shows that the FMA denied access to 980 illegal platforms in 2023 while launching nine investigations into “illegal exchange operations” and money laundering.

Kazakhstan’s Digital Assets Law, enacted in February 2023, prohibits creating and trading digital currencies and cryptocurrency exchange activities unless a national license is obtained.

The list of unlicensed exchanges blocked includes some major international platforms.

In November, it was revealed that Kazakh citizens could not access the Coinbase website after an order from the Ministry of Culture and Information blocked it on grounds of violating the Digital Assets Law.

Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit and Xignal&MT have been approved to operate in the country.

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