Kazakhstan Authorities Issue Warning About Illicit Operations of Several Cryptocurrency Exchanges, 2026/04/29 10:35:19

The Astana Financial Services Authority (AFSA) has announced that the operations of crypto exchanges OKX, HTX, Bitget, and MEXC within Kazakhstan are unlawful.

The regulator clarified that these exchanges are conducting activities in the country without authorization and are marketing their services to local users in violation of the law. AFSA representatives reminded that such operations are prohibited under current legislation.

“According to the ‘On Digital Assets’ law, any cryptocurrency trading activity without a license or explicit government approval is forbidden,” stated AFSA.

The agency emphasized that the popularity of crypto platforms does not equate to their legality.

“Even if a platform is regarded as a global leader, it must obtain authorization to operate within the jurisdiction of the republic,” the committee noted.

AFSA also highlighted additional risks associated with these platforms. Specifically, they often have ineffective systems for combating money laundering and terrorist financing, which may lead to users being drawn into illegal schemes.

Furthermore, unlicensed exchanges lack obligations to adhere to stringent data protection standards. This increases the likelihood of personal information leaks and hacks.

The regulator paid particular attention to the products available on such crypto platforms. Users may be offered complex instruments, including margin trading, futures, and staking, while the associated risks are frequently not disclosed, and tokens of questionable quality may be listed.

Previously, the head of Kazakhstan’s Financial Monitoring Agency (AFM), Zhanat Elimanov, reported that over the past year, 22 offices of illegal crypto exchanges were shut down in the country. Additionally, more than 1,100 online services related to cryptocurrency have been blocked.