Kazakhstan is straight up restricting access to six unlicensed crypto platforms rn after some court backed moves from the Astana Financial Services Authority.
The Fierce Licensing Clampdown 💀
On September 15 the Astana International Financial Center Court granted AFSA claims against the operators of BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX. The order bars these platforms from providing offering or advertising digital asset services within the AIFC without the required license. It also covers the distribution of mobile apps used to offer these services. LBank was initially included but the court removed it on September 18 after its operator independently blocked access to its services in Kazakhstan. The decision also involves Google and Apple which operate the Google Play Store and Apple App Store. Both companies are subject to the court order regarding geographic restrictions on access to the named platforms. AFSA said the legal action comes after months of efforts to tackle crypto services operating without authorization. The regulator began issuing written warnings to more than 20 platforms in 2025 and explained the rules under the AIFC regulatory framework. In early 2026 it took the matter to court against platforms that continued operating without a license. According to AFSA nine crypto platforms voluntarily restricted access to their apps in the country through the two app stores. The regulator then withdrew its claims against those operators. Another seven platforms said they intended to apply for an AFSA license to operate digital asset trading facilities. The remaining six are now subject to the court ordered restrictions.
Kazakhstan’s Crypto Scene Glow Up 🌑
Kazakhstan introduced a digital asset framework in May which covered stablecoins tokenized real world assets and digital versions of traditional financial instruments. The rules also set requirements for exchanges and other service providers. Two months later President Kassym Jomart Tokayev signed a decree to develop the industry further. The plans include regulated stablecoins for some cross border payments tokenized securities as well as incentives to bring digital assets onto local regulated platforms. More recently Tether began exploring a stablecoin tied to the Kazakh tenge under an agreement with the National Bank of Kazakhstan and Alatau City authorities. The parties will study issuance models and prepare a pilot proposal. No issuer blockchain or launch date has been announced. Meanwhile Kazakhstan government has approved a 65 measure plan that includes up to $60 million in tokenized Alatau projects by the end of 2026.
Just another echo from the void by iconofsin.eth 💖
