- Kazakhstan blocks over 1,100 unlicensed crypto exchanges in 2025.
- AFM's actions return 141.5 billion tenge to victims.
- New crypto regulation aligns with international standards.
Kazakhstan's Financial Monitoring Agency, led by Zhanat Elimanov, blocked over 1,100 unauthorized crypto exchanges in 2025, fighting illegal financial activities.
The crackdown underscores Kazakhstan's commitment to regulated crypto investments, influencing regional compliance standards while securing significant financial recoveries for crime victims.
Kazakhstan Blocks Over 1,100 Crypto Platforms
Kazakhstan has blocked over 1,100 crypto trading websites in a significant regulatory action. This step was disclosed in a 2025 operations report by the country's Financial Monitoring Agency to President Kassym-Jomart Tokayev.
Zhanat Elimanov, head of Kazakhstan's AFM, stated the blocking targets unlicensed exchangers. The agency has also completed probes into 1,135 criminal cases, emphasizing strict regulatory control over crypto activities within the nation.
Zhanat Elimanov, Head of Kazakhstan's Financial Monitoring Agency (AFM), disclosed, "AFM investigators completed probes into 1,135 criminal cases, returning 141.5 billion tenge ($277 million) to victims."
The blocking of these crypto platforms appears to affect the broader crypto trading community, especially in Kazakhstan. Such activities were linked to drug trafficking and fraud, with unregulated channels often used for illegal financial flows.
The operations led to seizure of assets from unlicensed platforms, including $17 million from exchanges in October 2025. This represents a firm stand on financial regulation and crime prevention.
No specific cryptocurrencies were named in the report, focusing more on unlicensed fiat-crypto platforms. AIFC-licensed exchanges remain operational, adhering to KYC/AML standards, ensuring regulated and transparent trade environments.
Kazakhstan's actions highlight potential economic, regulatory, and social implications, with increased oversight strengthening financial stability. This aligns with international trends towards tighter crypto regulations, aiming to curb illicit activities and promote legitimate investments.