In 2023, Kazakhstan’s Financial Monitoring Agency (FMA) took action against nearly a thousand illegal crypto exchanges operating in the country without proper registration. The FMA blocked access to 980 platforms, launched nine investigations into “illegal exchange operations,” and initiated measures against money laundering. This move is in line with Kazakhstan’s Digital Assets Law, enacted in February 2023, which prohibits the creation and trading of digital currencies and engaging in cryptocurrency exchange activities without obtaining a national license. The Astana International Financial Center (AIFC) is responsible for granting preliminary approval for such operations. (Source: Coingecko)