According to Finance Magnates, Kazakhstan's regulatory agency AFM RK announced that authorities have blocked over 3500 illegally operated cryptocurrency exchanges. This operation is the result of joint efforts between the National Security Council and the Ministry of Culture and Information Technology. Previously in 2023, authorities blocked access to Coinbase on suspicion of violating digital asset laws. In 2024, regulatory authorities cleared 36 illegal cryptocurrency exchanges with a total trading volume of 60 billion Kazakhstani tenge (approximately 113 million US dollars) and froze assets worth 4.8 million USDT. In addition, the authorities also exposed two cryptocurrency pyramid schemes, returning 545000 USDT to victims and freezing 120000 USDT held by the platform. AFM stated that it is working with international partners to strengthen regulation of cryptocurrency transactions, combat their use for criminal purposes, and develop legal amendments to hold digital asset providers accountable for money laundering. Financial institutions' inspections of cryptocurrency transactions are also being strengthened.