• April 23, 2024

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Kazakhstan Increases its Control Over Cryptocurrency Trading Platforms

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The authorities of Kazakhstan are closely watching cryptocurrency exchanges that violate the laws of the country.

The law enforcement agencies of the country have shut down several trading platforms that do not have a license to operate in country. According to the loca legislation, blockchain companies must register with the country’s regulator and serve customers only under a special legal regime.

The Astana Financial Services Authority (AFSA) has this week announced it has decided to tighten its oversight of crypto exchanges by adjusting to the licensing system for Digital Asset Trading Facility (DATF) trading platforms.

The new measure will improve the security of digital currency holders. The decision to tighten control over exchanges was made after the collapse of FTX and Alameda Research.