Kazakhstan Seizes $16.7M Crypto, Tightens Regulations to Streamline Industry

In a move to enhance regulatory oversight and streamline cryptocurrency operations within its borders, Kazakhstan has seized over $16.7 million from unlicensed exchanges operating within the country. This action underscores the nation’s commitment to enforcing stricter regulations in the Astana International Financial Centre (AIFC). The crackdown targets 130 unregistered platforms, significantly impacting local crypto markets. Authorities aim to move trading activities towards licensed venues, potentially affecting liquidity and overall market value tied to these exchanges.