{"id":16921,"date":"2023-01-26T11:05:40","date_gmt":"2023-01-26T11:05:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/several-crypto-exchange-websites-taken-down-in-kazakhstan-exchanges-bitcoin-news\/"},"modified":"2023-01-26T11:05:40","modified_gmt":"2023-01-26T11:05:40","slug":"several-crypto-exchange-websites-taken-down-in-kazakhstan-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/several-crypto-exchange-websites-taken-down-in-kazakhstan-exchanges-bitcoin-news\/","title":{"rendered":"Several Crypto Exchange Websites Taken Down in Kazakhstan \u2013 Exchanges Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Financial authorities in Kazakhstan have targeted at least five online platforms exchanging cryptocurrencies outside the law. Documents, computer equipment, and cryptocurrency wallets have been seized during searches in the northern part of the country. <\/strong><\/p>\n

Kazakhstan\u2019s Financial Watchdog Goes After Unlicensed Crypto Exchange Services<\/h2>\n

The Financial Monitoring Agency (FMA) of the Republic of Kazakhstan has dismantled a group involved in the illegal exchange of cryptocurrencies. Its members organized the trading through several websites such as kzobmen.com, 1wm.kz, kazobmen.ru, wm007.kz, and kz-exchange.com.<\/p>\n

As part of the operation in Kostanay region, searches were carried out at six locations, in which items incriminating the operators of the platforms were seized, the watchdog said in a press release. Its employees confiscated a number of laptops, cell phones, and flash memory sticks, as well as banking and accounting documents.<\/p>\n

The authority alleged that the organizers of the online exchangers had received \u201cespecially large-scale\u201d income from their business undertaking, without specifying the amount. It also did not reveal how many persons were in the group or their identities.<\/p>\n

Investigators were able to establish that they had two crypto wallets at Binance, the world\u2019s largest crypto exchange, with a combined balance of $6,000 in digital assets. Access to these wallets has been temporarily restricted, the FMA noted. More than $200,000 worth of coins were found in wallets with other exchanges.<\/p>\n

A pre-trial investigation is underway, according to the announcement. The Financial Monitoring Agency also reminded that these types of activities are allowed only under the special legal regime of the Astana International Financial Center (AIFC<\/a>).<\/p>\n

The Kazakhstan government has been taking steps to regulate<\/a> the country\u2019s crypto market, which has been growing since the Central Asian nation became a bitcoin mining hotspot following China\u2019s crackdown on the industry in 2021.<\/p>\n

In order to operate an exchange platform legally, crypto companies need to obtain regulatory approval and register with Kazakhstan\u2019s financial hub. In October, 2022, Binance was licensed<\/a> as a provider of crypto exchange and custody services. Earlier that month, it agreed<\/a> to share information about crypto-related crime with the authorities in Nur-Sultan.<\/p>\n

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Binance<\/a>, Crackdown<\/a>, Crypto<\/a>, crypto exchange<\/a>, crypto trading<\/a>, crypto wallets<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Exchange<\/a>, exchange websites<\/a>, exchangers<\/a>, financial watchdog<\/a>, fma<\/a>, Kazakhstan<\/a>, operation<\/a>, searches<\/a>, Trading Platforms<\/a>, Wallets<\/a><\/div>\n<\/div>\n

Do you think Kazakhstan will continue to clamp down on unlicensed crypto trading? Tell us in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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