According to TechFlow, on January 8, according to Finance Magnates, Kazakhstan's regulator AFM RK announced that authorities have blocked more than 3,500 illegally operating cryptocurrency exchanges. The action was the result of a joint effort by the National Security Committee and the Ministry of Culture and Information. The country's regulators reportedly liquidated 36 illegal cryptocurrency exchanges in 2024, with a total transaction volume of 60 billion Kazakhstan tenge (about 113 million US dollars) and froze assets worth 4.8 million USDT. The AFM said it is working with international partners to strengthen supervision of cryptocurrency transactions, combat its use for crimes, and formulate legal amendments to hold digital asset providers accountable for money laundering, and financial institutions' inspections of cryptocurrency transactions have also been strengthened.
It is reported that in 2023, the authorities also blocked access to Coinbase on suspicion of violating digital asset laws.