Authorities in Kazakhstan have shut down 130 cryptocurrency exchanges that had been working with out official approval, based on a report by The Instances of Central Asia.
As a part of this large-scale effort, authorities additionally seized digital belongings valued at $16.7 million.
These actions had been introduced by Kairat Bizhanov, Deputy Chair of the Monetary Monitoring Company, throughout a latest press briefing.
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He defined that, beneath present guidelines, cryptocurrency transactions are solely allowed by means of licensed platforms which might be linked with Kazakhstan’s common banking system. These rules goal to stop monetary crimes and preserve transparency in crypto buying and selling.
Throughout the identical operation, investigators additionally uncovered 81 separate teams that had been illegally exchanging crypto for money. These underground operations had reportedly processed over $43 million value of transactions.
Based on the company, many of those networks used pretend identities to open financial institution accounts and switch funds in a means that made them onerous to hint.
One of many main issues raised by officers was the continued misuse of ATMs. The whole quantity withdrawn from money machines through the evaluate interval reached $24.1 billion.
To assist cease this, the federal government launched new guidelines for financial institution card utilization. Every time greater than $913 is added to a card, the person should bear an ID examine utilizing each authorities data and a cellular verification system.
Banks are additionally required to maintain ATM video recordings for at the least six months.
Not too long ago, Dubai’s Digital Belongings Regulatory Authority (VARA) penalized 19 crypto-related companies. Why? Learn the complete story.
