Kazakhstan AIFC Court restricts Coinbase and five other crypto exchanges

The Astana International Financial Centre (AIFC) Court has issued an injunction against Coinbase and five other cryptocurrency platforms, prohibiting them from offering or advertising unlicensed services within the financial center. The restricted entities include BingX, Bitcoin.com, HTX, BitMart, and WEEX.

The ruling prevents these platforms from providing unauthorized services or distributing mobile applications intended to facilitate such services to customers within the AIFC jurisdiction. The court also directed Google and Apple to be served with the order, meaning the app stores are bound by the decision regarding the distribution of these services.

This legal action is not a nationwide ban on the exchanges in Kazakhstan. Instead, it specifically targets activities within the AIFC, which operates under its own regulatory framework. The Astana Financial Services Authority (AFSA) has been conducting research into unlicensed platforms and previously warned over 20 operators regarding regulatory compliance.