{"id":20457,"date":"2025-01-20T13:16:24","date_gmt":"2025-01-20T11:16:24","guid":{"rendered":"https:\/\/forklog.com\/en\/kazakhstan-jails-operators-of-illicit-bitcoin-exchange-seizes-assets\/"},"modified":"2025-01-20T13:16:24","modified_gmt":"2025-01-20T11:16:24","slug":"kazakhstan-jails-operators-of-illicit-bitcoin-exchange-seizes-assets","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kazakhstan-jails-operators-of-illicit-bitcoin-exchange-seizes-assets\/","title":{"rendered":"Kazakhstan jails operators of illicit bitcoin exchange, seizes assets"},"content":{"rendered":"<p><span data-descr=\"Agency for Financial Monitoring\" class=\"old_tooltip\">AFM<\/span> of Kazakhstan <a href=\"https:\/\/t.me\/afm_rk\/2789\">completed<\/a> an investigation into an illegal bitcoin exchange service with a turnover of more than 681m tenge ($1.28m).<\/p>\n<p>According to the agency, three organisers converted cryptocurrencies into fiat for a fee. Their clients numbered 380 people, as confirmed by bank statements.<\/p>\n<p>The defendants received prison terms ranging from 2.5 to 3.5 years, with confiscation of assets worth about 400m tenge (~$752,000), including real estate, vehicles and expensive computer equipment.<\/p>\n<p>The AFM also said that in 2024 criminals laundered drug-trafficking proceeds of 10bn tenge ($18.8m) through illegal exchangers.<\/p>\n<p>In Kazakhstan, the circulation of cryptocurrencies and the operation of exchanges are permitted exclusively within the jurisdiction of the <span data-descr=\"Astana International Financial Centre\" class=\"old_tooltip\">AIFC<\/span> with a licence, and miners are required to obtain permits.<\/p>\n<p>Between January and October 2024, the country\u2019s authorities <a href=\"https:\/\/forklog.com\/en\/news\/kazakhstan-shuts-down-19-bitcoin-exchanges-with-over-60-million-turnover\">shut down 19 bitcoin exchangers<\/a> with turnover exceeding $60m.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1257,153],"class_list":["post-20457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-currency-exchanges","tag-kazakhstan"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20457"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20456"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}