Kazakhstan Blocks 1,100+ Illegal Crypto Sites, Freezes 20K Cards

Kazakhstan blocked over 1,100 illegal crypto sites, shut 22 shadow exchanges, froze 20,000 bank cards, and returned $277 million to victims in a major 2025 crackdown, while expanding its regulated crypto market.

Kazakhstan has launched a sweeping crackdown on illegal cryptocurrency activities, blocking access to over 1,100 unlicensed crypto trading websites in 2025. The Financial Monitoring Agency (AFM) led efforts to dismantle criminal networks, shutting down 22 shadow exchanges and freezing around 20,000 bank cards linked to money laundering from drug trafficking and fraud. Authorities completed more than 1,100 criminal investigations, returning over $277 million to victims and seizing millions in digital assets. The crackdown also targeted 15 criminal groups and 29 illegal cash service organizations, with the financial sector ceasing dealings with about 2,000 companies and 56,000 individuals suspected of money laundering. Over $4 billion in suspicious money flows were detected. Despite these measures, Kazakhstan continues to expand its regulated crypto market, with trading on licensed platforms reaching $6.8 billion in 2025 and 27 licensed crypto firms operating within the Astana International Financial Centre. The government is piloting regulated crypto payment systems, though general crypto payments remain banned outside controlled projects.