According to a report by Finance Magnates, Kazakhstani authorities have closed down 36 unlicensed cryptocurrency exchanges as part of an ongoing crackdown on illicit crypto activities. The move is part of a wider effort by Kazakhstan to regulate the crypto sector and protect investors from potential fraud and financial crimes. As per the report, the seized assets of the banned exchanges were worth approximately $4.8 million and have been frozen by the authorities. This latest action brings the total number of unlicensed crypto exchanges blocked by Kazakhstan to over 3,500. The country has taken a proactive approach to regulating the crypto sector, implementing measures to prevent money laundering, terrorism financing, and other illegal activities. The crackdown on unlicensed exchanges demonstrates the Kazakhstani government's commitment to creating a transparent and well-regulated crypto ecosystem. It also serves as a warning to those operating unlicensed exchanges, as they face the risk of legal action and seizure of assets.