The authorities in Kazakhstan have taken significant steps to crack down on illegal cryptocurrency exchanges. They have blocked over 3,500 exchanges operating unlawfully, with the help of the National Security Committee and the Ministry of Culture and Information. In 2023, access to Coinbase was blocked due to alleged violations of digital asset laws. In 2024, 36 illegal exchanges were liquidated, and assets worth 4.8 million USDT were frozen and confiscated. Additionally, two cryptocurrency pyramid schemes were uncovered, and affected victims were refunded 545,000 USDT. The regulatory announcement also mentioned enhancements in the control of crypto transactions and efforts to combat their use for criminal purposes. Meanwhile, major global crypto exchanges like Bybit and Binance are expanding their presence in Kazakhstan. The National Bank of Kazakhstan has also launched a pilot program to explore the development of a central bank digital currency (CBDC), called the digital tenge.



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