Odaily Planet Daily News: The Kazakhstan regulatory agency AFM RK announced that it has banned over 3,500 illegally operating cryptocurrency exchanges. In 2024, the regulatory agency liquidated 36 illegal cryptocurrency exchanges, with a total trading volume of 60 billion Kazakhstani tenge (approximately 11.3 million USD), and froze assets worth 4.8 million USDT. In addition, AFM RK also exposed two cryptocurrency pyramid schemes, returning 545,000 USDT to victims and freezing 120,000 USDT held by the platforms. AFM stated that it is working with international partners to strengthen the regulation of cryptocurrency trading, combat its use for criminal activities, and develop legal amendments to hold digital asset providers accountable for money laundering, as well as enhance financial institutions' inspections of cryptocurrency trading. Previously, in 2023, AFM RK also blocked access to Coinbase on the grounds of suspected violations of digital asset laws. (Finance Magnates)