Kazakhstan | ForkLog

ForkLog 18 29.01.2025

Kazakhstan’s President Praises DeepSeek and Calls for a New Approach to Cryptocurrencies

Kazakhstan must accelerate the development of AI and integrate its elements into the e-government system by the end of 2025, according to a statement by President Kassym-Jomart Tokayev of the Republic. He emphasized this during an extended government meeting. Among the priority areas, he highlighted Smart City projects and the educational program AI-Sana for higher […]

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ForkLog 7 20.01.2025

Kazakhstan jails operators of illicit bitcoin exchange, seizes assets

AFM of Kazakhstan completed an investigation into an illegal bitcoin exchange service with a turnover of more than 681m tenge ($1.28m). According to the agency, three organisers converted cryptocurrencies into fiat for a fee. Their clients numbered 380 people, as confirmed by bank statements. The defendants received prison terms ranging from 2.5 to 3.5 years, […]

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ForkLog 20 04.12.2024

Kazakhstan Shuts Down Mining Farm with 156 Devices

AFM of Kazakhstan uncovered an illegal cryptocurrency mining farm located on an industrial site in the city of Temirtau. The devices were housed in metal containers. During searches at the site, 156 ASIC miners and other related equipment were discovered and seized. A pre-trial investigation is underway. Since the beginning of 2024, the agency has […]

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ForkLog 16 16.10.2024

Kazakhstan to Ban Banks from Transferring Funds to Foreign Crypto Exchanges

The Agency for Regulation and Development of the Financial Market of Kazakhstan plans to prohibit banks from processing payments to crypto exchanges that are not participants of the Astana International Financial Centre. This is stated in the regulator’s resolution. The restrictions will also affect transactions to electronic and online casinos. Operators will be unable to […]

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ForkLog 19 14.10.2024

Telegram to Establish Office in Kazakhstan

The messaging service Telegram is set to open an office and appoint a representative in Kazakhstan to better comply with regulatory requirements and engage with authorities. This was announced by the Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan. The head of the ministry, Zhaslan Madiyev, held meetings with the US Chamber of […]

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ForkLog 17 01.10.2024

Kazakhstan Shuts Down 19 Bitcoin Exchanges with Over $60 Million Turnover

Since the beginning of 2024, special units of Kazakhstan’s AFM have dismantled 19 cryptocurrency exchanges with a turnover exceeding $60 million. Representatives of the agency reported this during a meeting of the Council of Heads of Financial Intelligence Units (CHFIU). As part of the investigation, law enforcement froze digital assets valued at $1.2 million. During […]

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ForkLog 17 01.10.2024

Binance Kazakhstan Secures Full License for Operations

The cryptocurrency exchange Binance Kazakhstan has obtained a full license DATF from the Astana Financial Services Authority. The announcement was made by the company’s CEO, Richard Teng. Excited to share that #Binance Kazakhstan has become the first digital asset platform to obtain a full DATF license! ?? Very thankful for Kazakhstan’s forward-looking approach to financial […]

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ForkLog 22 25.09.2024

Mining Farm Generating $300,000 in Two Years Shut Down in Astana

Experts from Kazakhstan’s AFM are investigating an illegal cryptocurrency mining operation. The farm, comprising nearly 1300 ASIC miners, was operating under the guise of an engine processing centre in Astana. According to case materials, from 2022 to May 2024, the suspects engaged in mining digital assets without the necessary license. The total value of the […]

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ForkLog 6 06.09.2024

Kazakhstan’s Binance Secures Regulatory Approval for License

The cryptocurrency exchange Binance Kazakhstan has received approval for a full regulatory license from AFSA. This was reported to ForkLog by the trading platform’s team. The decision follows extensive audits of the exchange’s operations, including an external financial audit and an assessment of compliance with the jurisdiction’s regulatory requirements. The license will allow Binance Kazakhstan […]

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ForkLog 19 08.08.2024

Kazakhstan Cracks Down on Illegal Cryptocurrency Operations Worth $75.4 Million

Special units of Kazakhstan’s AFM identified 18 crimes related to illegal cryptocurrency operations and mining, with a total turnover exceeding 36 billion tenge ($75.4 million). In 2024, six convictions were handed down for illegal trading of digital assets. During the pre-trial investigation of these cases, assets worth a total of 1.2 billion tenge ($2.51 million) […]

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ForkLog 22 02.08.2024

Kazakhstan Recovers $500,000 from Bitcoin Pyramid Scheme

Officials from Kazakhstan’s AFM tracked down assets worth 250 million tenge (over $520,000) from the Eolus cryptocurrency pyramid scheme, which had defrauded nearly 2,500 citizens nationwide. The investigation into the fraudulent fund-raising scheme spanned several months. The perpetrators transferred the assets obtained from investors through numerous transit crypto wallets. The agency succeeded in tracing the […]

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ForkLog 17 28.06.2024

Kazakhstan Approves Toncoin for Trading on Licensed Platforms

The AIFC Committee on Financial Services Regulation has reviewed and approved Toncoin (TON) for trading on licensed AFSA platforms, according to a press release. The decision follows a comprehensive review which determined that the asset meets regulatory standards. “Investors can now trade Toncoin on licensed AFSA platforms, benefiting from the robust regulatory framework and investor […]

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