It is forbidden: AFM has discovered an increase in illegal cryptocurrency transactions
Date: 12.03.2024
It is forbidden: AFM has discovered an increase in illegal cryptocurrency transactions
The Financial Monitoring Agency reported on the ban on the turnover of unsecured digital assets in Kazakhstan.
"Currently, the AFM observes the presence of illegal transactions of individuals with cryptocurrency (purchase, sale, payments for goods, works, services, transactions through P2P). Cryptocurrency is often used in crimes such as fraud, pyramid schemes and laundering of proceeds from crime," the press service of the Financial Monitoring Agency said in a statement.
The AFM recalled that the issuance of unsecured digital assets (bitcoin, ethereum), the turnover of unsecured digital assets (settlements through bitcoin, ethereum), the activities of digital asset exchanges for unsecured digital assets (services for the exchange of unsecured digital assets for currency and currencies for unsecured digital assets) are prohibited on the territory of Kazakhstan.
"This ban has only one exception – the activities of exchanges that have received a license from the Astana International Financial Center (AIFC)," the AFM said in a statement.
It should be noted that the chairman of the Kazakhstan Association of Blockchain Technologies and Data Centers (KABT), Dauren Karashev, has repeatedly raised a topical issue at all levels, addressing the majilismen and government agencies. Earlier, the Head of State noted the need to strengthen measures against the growth of cryptocurrency crimes and strengthen measures aimed at protecting respectable businesses.