Illegal cryptocurrency exchanger with a turnover of $34 million has been closed in Kazakhstan
It is reported that BS Change has been working in Astana since 2021
09.03.2023 - 11:20
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What’s new? The Financial Monitoring Agency (AFM) of the Republic of Kazakhstan has reported the closure of the unregistered cryptocurrency exchanger BS Change, which had been operating in Astana since 2021. The regulator stopped the activities of three organizers of BS Change and seized their belongings and cash worth $342 000 and 7 million tenge (~$16 000). The total turnover of crypto wallets of the exchanger on the Binance exchange is tentatively estimated at $34 million.
Information on the AFM website
What else is known about the case? AFM also identified nearly $23 000 worth of crypto assets on two crypto wallets on Binance. The addresses have been temporarily blocked. According to the statement, the investigation is ongoing and other information is not to be disclosed.
In January, five illegal crypto exchanges that operated outside the Astana International Financial Center (AIFC) were closed in Kazakhstan, which is prohibited by local law.
On February 6, President Kassym-Jomart Tokayev signed a law on digital assets, which obliges miners to obtain a license and sell through licensed exchanges up to 75% of the mined cryptocurrency.
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