Kazakhstan's financial authorities have seized $1.2 million in cryptocurrency and shut down 19 illegal crypto exchanges with a combined turnover of over $60 million. The move is part of a broader effort by the Financial Monitoring Agency to combat money laundering and terrorism financing. The regulator is focused on illegal crypto mining, unlicensed exchanges, and unlawful transactions involving digital assets. Since the beginning of the year, Kazakhstan has dismantled nine illegal mining operations and confiscated nearly 4,000 crypto mining rigs. The authorities have also blocked 5,500 online exchanges operating without licenses. Kazakhstan is targeting both small and major players in its efforts to regulate the crypto industry and previously banned Coinbase, the largest US cryptocurrency exchange, over allegations of violating local crypto regulations.



Other News from Today