Kazakhstan shuts down more than 100 illegal exchanges and confiscates millions in cryptocurrencies

The measures are part of the fight by local authorities against illicit activities with cryptocurrencies, which involve high transactions, money laundering, use of financial mules and other practices to evade regulatory controls.

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• Astana authorities closed 130 unlicensed exchange platforms.
• Digital assets valued at USD $16.7 million were seized.
• The country reinforces controls to stop money laundering and anonymous operations.

🚨 Kazakhstan closes 130 illegal exchanges 🚨

Digital assets worth US$16.7 million were seized in an effort to combat money laundering.

The new regulations will require identification for recharges over USD $900.

The country seeks to balance control… pic.twitter.com/OoqmPi7FsE

— Diario฿itcoin (@DiarioBitcoin) October 7, 2025

Kazakhstan has stepped up its crackdown on illegal cryptocurrency trading, shutting down some 130 unauthorized exchanges and confiscating digital assets worth millions of dollars. The operation marks one of the largest regulatory measures in the country in its attempt to balance financial control and development of the sector Blockchain.

Massive operation and record numbers

The deputy director of the Financial Monitoring Agency (AFM), Kairat Bizhanov reported that authorities dismantled 130 unlicensed platforms involved in money laundering. According to data cited by regional media, the seized assets amount to USD $16.7 million, reports Cryptopolitan.

During a government meeting, Bizhanov highlighted that since the beginning of 2025, 81 criminal groups have been detected operating fraud schemes. “cash out” illicit. These networks moved more than 24 billion tenge (about USD $44 million), surpassing the previous year’s records by a wide margin.

The official acknowledged that the main risks come from anonymous transactions and the use of “financial mules”, people who lend their bank accounts to move funds of criminal origin.

New rules to stop money laundering and anonymous operations

To counter these practices, the AFM and the National Bank of Kazakhstan (NBK) They implemented new rules. From now on, debit card top-ups exceeding 500,000 tenge (approximately USD $900) will require personal identification and confirmation via mobile banking apps.

Additionally, banks are required to retain ATM camera recordings for at least 180 days. Authorities also plan to expand the use of facial and fingerprint recognition in all cash transactions, with the aim of better tracking suspicious movements.

Regulators in Russia have adopted similar measures to curb the phenomenon of “money mules” or “droppers”. In that country, banks can limit cash withdrawals to USD $600 per day in the event of transactions considered suspicious.

Contradictions in Kazakhstan’s crypto policy

The tightening of measures comes at a time when Kazakhstan seeks to become a regional hub for the crypto industry. Since the creation of Astana International Financial Center (AIFC)the country has tried to attract companies from Blockchain and exchanges through licenses issued by the AAstana Financial Services Authority (AFSA).

According to the law “On Digital Assets”, only platforms licensed by the AFSA They can operate legally within the country. However, authorities had announced plans to expand the licensing regime beyond the AIFC, in order to allow the operation of exchanges in other regions. That initiative has not yet materialized.

Therefore, any exchange outside the AIFC It is still considered illegal, even if it plans to regularize in the future. This situation has created uncertainty among companies that hoped to participate in the expanded legal framework.

Kazakhstan: between mining and regulation

The country, one of the largest Bitcoin mining centers in the world, maintains an ambiguous relationship with the sector. While at times blaming miners for power outages and tax losses, the government acknowledges that it has collected more than $31 million in taxes from the industry in the past three years.

Astana seeks to cement its reputation as a trusted destination for financial innovation in Eurasia. However, the offensive against illegal exchanges shows that the immediate priority remains combating money laundering and strengthening technological supervision of the financial system.

Article written with the help of an AI content writer, edited by Angel Di Matteo / DailyBitcoin

Original image from DiarioBitcoin, created with artificial intelligence, free to use, licensed under Public Domain.

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