In 2023, Kazakhstan’s Monetary Monitoring Company (FMA) blocked entry to nearly a thousand crypto exchanges serving the nation’s residents with out correct registration.
According to a Dec. 7 press launch printed on the federal government’s web site, the FMA denied entry to 980 unlawful platforms in 2023. It additionally launched 9 investigations into “unlawful change operations” and cash laundering. This info was revealed by the chairman of the FMA, Ruslan Ostroumov, in the course of the assembly of the Eurasian Group on Combating Cash Laundering in China.
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The Digital Property Legislation, enacted in February 2023, prohibits creating and buying and selling digital currencies and cryptocurrency change actions until a nationwide license is obtained. The Astana Worldwide Monetary Heart (AIFC), functioning as a particular financial zone in Kazakhstan, is liable for granting preliminary approval for operations.
The listing of unlicensed exchanges blocked contains some major international platforms. In November, it was revealed that Kazakh residents couldn’t entry the Coinbase web site after an order from the Ministry of Tradition and Data blocked it. Ministry representatives defined to journalists that the request got here from a special authorities physique, the Ministry of Digital Improvement, which accused Coinbase of violating the Digital Property Legislation.
To this point, Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit and Xignal&MT have been authorized to function within the nation.
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