Quick Takeaways
- This year, Kazakhstan stopped the operations of 130 crypto platforms due to their involvement in illegal mining and laundering money.
- Authorities confiscated crypto assets connected to these illicit activities, with an estimated value of 17 million dollars.
- The newly introduced anti-money laundering regulations entail stricter identification requirements for large transactions.
Crypto Platforms Are Closed in Kazakhstan to Clear the Air
Kazakhstan has made a name for itself as a country that welcomes cryptocurrency. It’s welcomed miners, approved legal exchanges, and even let businesses pay some fees using stablecoins like USDT. But this year, something changed.
In 2025, Kazakhstan shut down 130 crypto platforms, and not just for small infractions. These were platforms tied to serious financial crimes, including money laundering and illegal mining.
To put it in perspective: only 36 platforms were shut down last year. So this isn’t a small increase; it’s a big move.
The message? Kazakhstan is still open to crypto, but it’s cracking down hard on anyone abusing the system.
Why Kazakhstan Shuts Down So Many Platforms This Year
So what happened?
Well, many of the platforms taken down weren’t major players like Binance or Coinbase. They were mostly “crypto exchangers” — smaller services that let people swap crypto, often without much oversight or regulation.
Think of them like cash exchange booths for crypto. Some were completely unlicensed. Others were being used to quietly move large sums of money, far from the eyes of regulators.
For Kazakhstan, this was a red flag. And instead of waiting for things to get worse, they acted fast.
Kazakhstan Shuts Down Bad Actors and Seizes $17 Million
With the platforms gone, Kazakhstan didn’t just pull the plug and walk away. Authorities also seized around $17 million worth of crypto assets tied to illegal activity.
That includes money linked to both money laundering and unlicensed crypto mining, the kind that drains electricity without paying or reporting.
In fact, just last week, the Financial Monitoring Agency (AFM) confiscated another $642,000 from illegal mining operations alone. It’s part of a growing effort to protect both the country’s economy and infrastructure from crypto-related abuse.
What happens to the seized crypto? That’s still being discussed. Some believe it could be used to support Kazakhstan’s future national crypto reserve, which is currently in the works.
Kazakhstan discontinued flaws with new AML rules
Along with the platform shutdown, Kazakhstan is also tightening its money laundering (AML) laws. Here is a big change: If you are topping the bank card with more than 500,000 ten (approximately $ 925), you will now need to provide the ID of the recipient, not only the recipient.
Earlier, only the recipient had to verify his identity, now both sides of the transaction are examined. This may look like a small twist, but it helps prevent anonymous transactions that relieves criminals often to move money without tracking.
Officials are also thinking of adding additional security through mobile apps or SMS confirmation for large transactions.
Still Pro-Crypto: Kazakhstan Isn’t Closing the Door
Now, before you think this is an anti-crypto move, it’s not.
Even as Kazakhstan shuts down illegal platforms, it’s actively supporting the growth of legal crypto businesses. In fact, the country is working on a state-backed crypto reserve, and recently approved stablecoin payments for certain regulatory fees.
There’s also been progress in investment. Kazakhstan launched one of Central Asia’s first spot Bitcoin funds, helping open the door to crypto investment for more people.
Right now, 20 crypto platforms are fully licensed and approved to operate in the country. That includes familiar names like Bybit and WhiteBIT, which have met the country’s regulatory requirements and are allowed to serve users legally and securely. So yes, the crackdown is real, but so is the long-term vision for crypto.
What It All Means: A Safer, Smarter Crypto Future
Kazakhstan is making one thing clear: crypto is welcome, but only if it’s done right.
By shutting down shady platforms and enforcing new rules, the country is trying to build a clean, trustworthy environment for digital finance.
One where legit businesses can grow, and where users don’t have to worry about getting caught in someone else’s illegal mess.
If it succeeds, Kazakhstan could become a model for how governments support crypto innovation while keeping the bad actors out.
