Kazakhstan shut down 36 illegal crypto exchanges in 2024, seizing $112 million in assets and advancing Anti-Money Laundering efforts alongside its upcoming digital tenge launch.
Kazakhstan took down 36 illegal cryptocurrency exchanges in 2024 amid ongoing efforts to combat money laundering in the region, a significant drop of 96.3% from 2023.
On Jan. 6, the Financial Monitoring Agency of the Republic of Kazakhstan announced the shutdown of 36 crypto exchanges operating without proper authorization in 2024.
The agency noted that illegal crypto exchanges help facilitate money laundering by allowing unvetted fiat-to-crypto and crypto-to-fiat transfers. A translated statement from the agency said:
