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From January to September, the Financial Monitoring Agency of Kazakhstan (AFM) closed 130 cryptocurrency exchanges. The authorities have confiscated digital assets worth about 9.2 billion tenge ($17 million), AFM Deputy Chairman Kairat Bizkhanov said.
Kairat Bizkhanov called the closed crypto platforms illegal and capable of being used as channels for laundering criminal proceeds, as they provided their services without a license from the Astana Financial Services Agency (AFSA). This is prohibited by the Kazakh law on digital assets.
The official called the shadow turnover of cryptocurrencies a risk to the economy of Kazakhstan, contributing to the illegal cashing out and withdrawal of funds from the country.
” Despite the measures being taken, the volume of cash withdrawals is growing. The main risk is the possibility of anonymous transactions without identifying the sender or recipient. Such platforms disguise transactions as legal transactions with digital assets, which are conducted using bank cards issued to nominal owners,” explained the deputy chairman of AFM.
Earlier, AFB reported that since January 2017, 17 criminal proceedings related to illegal mining of cryptocurrencies have been opened in Kazakhstan, and the total damage from mining is estimated at 1.3 billion tenge ($2.3 million).
A source: bits.media
