Kazakhstan's AFSA just dropped the hammer on 6 major crypto platforms—$Coinbase, BingX, Bitcoin.com, $HTX (Huobi), WEEX, and BitMart—blocking them from operating in the Astana International Financial Centre without proper licenses.
The regulator started warning 20+ platforms back in 2025. Most complied or geoblocked access. These 6 didn't, so now they're facing court injunctions. Google and Apple are also forced to enforce geo-restrictions on their app stores.
The AFSA's argument: unlicensed operators create unfair competition for licensed firms that actually pay for AML compliance, KYC, and regulatory oversight. Fair point—but this also shows how aggressively jurisdictions are tightening the noose on unregistered exchanges.
7 platforms are now scrambling to get licensed. LBank already pulled out voluntarily.
If you're trading on any of these platforms from Kazakhstan or the AIFC zone, expect access issues soon. This is part of a broader global trend: regulators are done playing nice with offshore exchanges that ignore local rules.
Watch how this plays out—could set a precedent for other emerging crypto hubs.
The regulator started warning 20+ platforms back in 2025. Most complied or geoblocked access. These 6 didn't, so now they're facing court injunctions. Google and Apple are also forced to enforce geo-restrictions on their app stores.
The AFSA's argument: unlicensed operators create unfair competition for licensed firms that actually pay for AML compliance, KYC, and regulatory oversight. Fair point—but this also shows how aggressively jurisdictions are tightening the noose on unregistered exchanges.
7 platforms are now scrambling to get licensed. LBank already pulled out voluntarily.
If you're trading on any of these platforms from Kazakhstan or the AIFC zone, expect access issues soon. This is part of a broader global trend: regulators are done playing nice with offshore exchanges that ignore local rules.
Watch how this plays out—could set a precedent for other emerging crypto hubs.