Summary
- Kazakhstan announced the closure of 36 illegal virtual asset exchanges.
- These exchanges conducted illegal transactions without customer identification, and the asset recovery amounted to approximately $4.8 million.
- The Kazakhstan Financial Supervisory Authority continues to enforce strict crackdowns on illegal virtual asset exchanges.
Kazakhstan announced the closure of 36 illegal virtual asset (cryptocurrency) exchanges.
According to a report by Cointelegraph on the 8th (local time), the Republic of Kazakhstan Financial Supervisory Authority stated, "In 2024, we will close 36 virtual asset exchanges operating without proper authorization. These illegal exchanges conducted suspicious transactions without customer identification and were used by fraudsters and drug traffickers."
Due to the closure of these exchanges by the Kazakh authorities, assets worth approximately $112.8 million disappeared, and assets worth $4.8 million were seized.
In 2023, the Kazakhstan Financial Supervisory Authority also closed 980 virtual asset exchanges and conducted investigations related to illegal trading operations and money laundering.
YM Lee
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