Kazakhstan Blocks 1,100+ Illegal Crypto Sites in Major 2025 Crackdown

TLDR

• Kazakhstan blocked more than 1,100 unlicensed crypto trading websites throughout 2025.
• The Financial Monitoring Agency led the crackdown against illegal digital asset platforms.
• Over 1,000 criminal cases were investigated involving financial fraud and unauthorized crypto services.
• Authorities returned over $277 million to victims of online financial crimes.
• Law enforcement froze 20,000 bank accounts used by money mules working for illegal networks.

Kazakhstan has shut down over 1,100 crypto exchange websites that operated without licenses, while targeting related criminal networks and financial violations. The Financial Monitoring Agency (AFM) led the effort throughout 2025 and investigated over 1,000 financial crimes, returning billions in seized funds. President Kassym-Jomart Tokayev received a full report from the agency, which emphasized illegal platforms and crypto crime crackdowns across the country.

Over 1,100 Crypto Platforms Taken Offline

The AFM disabled more than 1,100 online crypto trading services that operated without licenses in Kazakhstan throughout 2025. These platforms violated national laws by offering services outside the Astana International Financial Center (AIFC) framework. Authorities launched investigations into illegal operations and money laundering linked to such platforms.

AFM head Zhanat Elimanov confirmed this during his briefing with the president earlier this week. “We prevented unauthorized services from operating and protected the financial system,” Elimanov said during his statement. These efforts are part of broader plans to control and regulate the digital asset environment.

The country aims to expand legal crypto trading while preventing crimes linked to unregistered platforms. Several of these blocked sites were linked to fraud, illegal transactions, and drug money laundering. The crackdown is in line with Kazakhstan’s ongoing digital asset policy adjustments.

Financial Crime Investigations and Seizures

Authorities opened 1,135 criminal cases in 2025, targeting crimes tied to illegal exchanges and digital asset abuse. The agency returned 141.5 billion tenge (around $277 million) to victims of financial fraud. Investigations exposed connections between unlicensed platforms and criminal groups.

AFM dismantled 15 criminal organizations and 29 illegal financial service providers during the year. They froze 20,000 bank accounts used by money mules connected to online crimes. Payment institutions helped track 2.1 trillion tenge (over $4 billion) in suspicious money flows.

Investigations also stopped the activity of 22 illegal crypto exchanges involved in laundering and cross-border crime. These services helped move funds from drug trafficking and online scams. Kazakhstan continues working with financial institutions to detect and prevent such activities.

In 2025, 2,000 companies and 56,000 individuals were flagged for suspected laundering activity. These actions followed closer financial monitoring using tools from 35 different payment institutions. The agency has increased enforcement efforts across all crypto-related sectors.

Kazakhstan Targets Fraud in Digital Finance

Kazakhstan targeted multiple illegal crypto schemes in the second half of 2025. Officials seized $10 million in digital coins from a crypto pyramid that defrauded users in Kazakhstan, Russia, and Belarus. The scam spanned several post-Soviet countries and drew regional attention.

In September, authorities shut down a major money laundering exchange known as RAKS, which had operated through the dark web. The platform processed illegal transactions across the region before being dismantled. Officials identified its infrastructure during broader investigations into laundering networks.

Later in October, the AFM announced it shut down 130 more unauthorized exchanges. Nearly $17 million in crypto assets was seized from the platforms’ operators. Law enforcement continued targeting unregistered exchanges throughout the rest of the year.

By November, the Interior Ministry confirmed over 1,000 crypto-related investigations were opened in two years. Estimated damages to victims surpassed $15 million. Cases included cross-border investment fraud and illegal trading.

Kazakhstan has also introduced pilot projects like CryptoCity to test regulated crypto payment systems. While crypto payments remain banned for general use, investments in digital assets are being legalized. Authorities continue to tighten control over the digital finance space.

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