Key Notes
- The frozen bank cards and shut-down exchanges laundered proceeds from drug trafficking and fraud across Kazakhstan.
- Authorities liquidated 15 criminal groups and shut down 29 illegal cash-out platforms with turnover exceeding $251 million.
- The financial sector terminated relationships with 2,000 companies and flagged 56,000 individuals for suspected money laundering.
Kazakhstan’s Agency for Financial Monitoring shut down 22 unlicensed cryptocurrency exchanges and blocked more than 1,100 illegal online crypto services in 2025, AFM Chairman Zhanat Elimanov reported during a Jan. 12 meeting with President Kassym-Jomart Tokayev.
Authorities also froze approximately 20,000 bank cards used to launder proceeds from drug trafficking and fraud.
Investigators completed 1,135 criminal cases last year and secured compensation of 141.5 billion tenge (approximately $277 million) for victims, according to the Akorda statement.
The AFM serves as Kazakhstan’s financial intelligence unit and oversees anti-money laundering enforcement across the country.
Enforcement Scope
Law enforcement liquidated 15 criminal groups and shut down 29 platforms that converted digital funds to cash outside legal banking channels.
The combined turnover of these illegal cash-out operations exceeded 128 billion tenge (approximately $251 million).
The frozen “drop cards” are bank cards recruited by criminals to receive and move illicitly obtained funds. Money mules open accounts or hand over existing cards, which criminal networks then use to layer transactions and obscure the origins of illegal proceeds.
The financial sector terminated business relationships with 2,000 companies and flagged 56,000 individuals suspected of money laundering.
These actions align with tightening global oversight of digital asset markets.
Licensed Market Continues
Kazakhstan targets unlicensed operations while its regulated market continues to expand. Trading on platforms licensed through the Astana International Financial Centre reached $6.8 billion from January to September 2025.
The AIFC currently hosts 27 licensed crypto firms, including 12 exchanges authorized to operate within the regulatory framework.
The enforcement push follows record crypto theft exceeding $4 billion globally in 2025. Industry efforts to combat financial crime have also intensified.
The T3 Financial Crime Unit froze $300 million in illicit funds during its first year of operation.
Kazakhstan shut 130 platforms in a separate October 2025 enforcement wave, seizing $16.7 million in assets.
The January 2026 briefing to President Tokayev covered cumulative annual results for the full calendar year.
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As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
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Source: https://www.coinspeaker.com/kazakhstan-shuts-22-shadow-crypto-exchanges-freezes-20k-cards-in-crackdown/
