980 Cryptocurrency Exchange Blocked!
980 Cryptocurrency Exchange Blocked. Kazakhstan is one of the countries where Bitcoin mining is heavily concentrated worldwide. Especially after the cryptocurrency mining bans in China, many miners turned to Kazakhstan. However, in 2023, access to 980 unlicensed cryptocurrency exchanges in the country has been blocked.
According to a statement by the Financial Monitoring Authority (FMA) in the country, access to 980 platforms determined to be illegal has been blocked within this year. Additionally, investigations related to money laundering allegations have been initiated against 9 of these companies. The announcement was made by FMA President Ruslan Ostroumov and was published on a government-owned website.
According to the new regulations implemented in Kazakhstan earlier this year, any company offering exchange services is not authorized to operate without a ‘national license.’ Among the companies facing access restrictions is Coinbase. However, no money laundering investigation has been initiated against Coinbase.
Reportedly, among the exchanges in the country holding the necessary license are Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit, and Xignal&MT.
