Kazakhstan Shuts 130 Crypto Platforms, Seizes $17M

Kazakhstan’s Financial Monitoring Agency has shut down 130 crypto platforms and seized $17 million in assets tied to illegal activity, as the country tightens anti-money laundering controls while fostering regulated crypto growth.

Kazakhstan intensifies crypto enforcement

Kazakhstan, a leading crypto hub in Central Asia, is cracking down on illicit activity within its digital asset sector.
According to the Financial Monitoring Agency (AFM), authorities have shut down 130 illegal crypto platforms in 2025 for involvement in money-laundering and unlicensed exchange operations.

An AFM spokesperson confirmed that $16.7 million worth of cryptocurrencies had been seized from wallets linked to the investigations, highlighting the agency’s commitment to transparency and financial security.

New AML rules for bank transfers

As part of its broader anti-money-laundering strategy, Kazakhstan is introducing new compliance measures for money transfers.
AFM Deputy Chairman Kairat Bizhanov announced that all bank card top-ups exceeding 500,000 tenge ($925) will now require verification of the sender’s Individual Identification Number (IIN).

Previously, only the recipient’s IIN was required. Authorities are also considering mobile or SMS confirmation for such transactions, aiming to enhance traceability and user protection in the financial system.

Illegal crypto exchangers multiply in 2025

The AFM clarified that the platforms shut down were not centralized exchanges but rather crypto exchangers — unlicensed operators functioning like currency exchange offices.
The number of such closures jumped sharply this year from 36 in 2024 to 130 in 2025.

Meanwhile, the Astana Financial Services Authority (AFSA) lists 20 licensed digital asset service providers, including major global exchanges Bybit and WhiteBIT, as officially approved to operate in the country.

Kazakhstan’s dual strategy: crackdown and innovation

Despite the clampdown, Kazakhstan continues to promote regulated crypto adoption.
The country pioneered the payment of state fees in USDT, launched Central Asia’s first spot Bitcoin fund, and is developing a state-backed crypto reserve.

Authorities have not yet confirmed whether the seized $16.7 million will contribute to the reserve, as the legal framework remains under review.
Still, the combination of regulatory rigor and innovation positions Kazakhstan as one of the region’s most proactive digital asset economies.