The Financial Monitoring Agency of Kazakhstan has concluded its investigation into two individuals involved in illegal cryptocurrency exchanges in Astana.
The individuals charged a commission of 1.5% to 2.5% for their services, generating a turnover of 15 billion tenge ($33.1 million).
Both defendants have been sentenced to prison terms of three and two and a half years, respectively, with asset confiscation. Specifically, 22,894.5 USDT, $328,000, and nearly 7 million tenge (~$15,450) have been transferred to the state.
In Kazakhstan, cryptocurrency trading and exchange operations are permitted exclusively within the jurisdiction of the AIFC with a license.
At the end of 2023, an investigation in Astana concluded regarding an illegal exchange with a turnover of approximately $745,000.