Stricter Oversight for Digital Transfers
Authorities have announced plans to introduce additional security layers for large money transfers. Any top-up over a certain limit will soon require verification not just of the receiver, but also the sender’s identity number. Regulators are also weighing the use of mobile confirmation systems to track transactions more efficiently.
AFM deputy head Kairat Bizhanov said the change is part of a broader effort to make financial movements more transparent and to reduce loopholes that have been exploited by criminals using crypto channels to disguise funds.
Unlicensed Exchanges Under Fire
Unlike regulated exchanges such as Bybit or WhiteBIT, which are listed under Kazakhstan’s official registry, many of the entities shut down this year operated like informal currency exchangers, often outside the banking system. These small, unregistered desks became an easy target for those seeking anonymity – and for regulators determined to clean up the market.
Last year, only a few dozen such operations were closed. The sharp rise in 2025 reflects both an increase in illegal activity and a more aggressive enforcement policy from the AFM.
Pursuing Legitimacy and Innovation
Even as it cracks down on bad actors, Kazakhstan is expanding its ambitions to become a regional crypto powerhouse. The government has already tested stablecoin payments for regulatory fees, approved one of Central Asia’s first spot Bitcoin investment funds, and is now working on a state‑backed crypto reserve intended to stabilize the market.
That reserve remains under development, and it’s unclear whether any of the recently seized funds will contribute to it. However, officials say the project will form a central pillar in Kazakhstan’s long‑term financial modernization strategy.
By combining innovation with regulation, Kazakhstan is carving a distinct identity in the digital asset world – where transparency, not chaos, becomes the foundation for growth.
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