The Astana International Financial Centre Court issued a default judgment barring six unlicensed cryptocurrency exchanges—including Coinbase, HTX, and BingX—from offering or marketing digital asset services in Kazakhstan. The ruling enforces the nation's 2023 Law on Digital Assets and extends to Google and Apple to restrict app access. While nine other exchanges voluntarily blocked local access to avoid court action, authorized platforms such as Binance Kazakhstan stand to absorb displaced traders required to migrate to compliant venues.
Court rulings against unlicensed crypto exchanges
- ▪The September 15, 2026 AIFC court order covers app-store operators Google and Apple to enforce geographic restrictions on access to the six unlicensed crypto platforms—Coinbase, BingX, Bitcoin.com, HTX, BitMart and WEEX—in Kazakhstan
- ▪A September 15, 2026 AIFC court injunction barred Coinbase, BingX, Bitcoin.com, HTX, BitMart, and WEEX from operating, while holding them jointly liable for approximately KZT 2 million in legal costs
- ▪The AIFC court initially named exchange operator LBank in its September 15, 2026 ruling before issuing a variation order on September 18, 2026 to remove LBank after it blocked user access in Kazakhstan
AFSA Enforcement actions and platform responses
- ▪Seven cryptocurrency platforms indicated to the Astana Financial Services Authority that they intended to seek formal licenses to operate in Kazakhstan
- ▪Nine cryptocurrency platforms voluntarily blocked app access for users in Kazakhstan, prompting the Astana Financial Services Authority to withdraw its court claims against those operators
- ▪The Astana Financial Services Authority issued warnings to more than 20 cryptocurrency platforms regarding Astana International Financial Centre regulatory compliance rules during 2025
Impact on Kazakh cryptocurrency traders
- ▪Kazakh cryptocurrency traders transitioning to authorized platforms must complete required onboarding and identity verification procedures mandated by local regulators
- ▪Court injunctions restricting unlicensed exchanges allow authorized platforms such as Binance Kazakhstan and Bybit Kazakhstan to capture Kazakh crypto traders moving away from prohibited venues
Digital asset regulation in Kazakhstan
- ▪Kazakhstan's National Bank oversees digital asset service providers operating outside the Astana International Financial Centre
- ▪Kazakh authorities restricted access to Coinbase in 2023 for regulatory non-compliance, while Kazakhstan's Financial Monitoring Agency blocked access to nearly 1,000 unregistered crypto exchanges in 2023
- ▪Kazakhstan's 2023 Law on Digital Assets mandates that only entities authorized and licensed within the Astana International Financial Centre are permitted to carry out activities involving unsecured digital assets
- ▪Exchanges Binance Kazakhstan and Bybit Kazakhstan operate as authorized digital asset service providers within the Astana International Financial Centre regulatory framework
Story comments
Loading comments…