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Kazakhstan’s financial court moved against six major crypto platforms, blocking them from operating inside the Astana International Financial Centre without a license. The ruling came after months of warnings went largely ignored.
Why It Matters
The ruling underscores that Kazakhstan is tightening enforcement around crypto activity in the Astana International Financial Centre, which could raise compliance costs and limit access for offshore platforms seeking local users. More broadly, it signals that regulators in the region are increasingly willing to move from warnings to legal action, a reminder that licensing and advertising rules are becoming a key market access issue for crypto firms.
The Astana Financial Services Authority, known as AFSA, first brought the case to the AIFC Court in early 2026. Before that, the regulator had already contacted more than 20 platforms in 2025, sending written warnings about licensing requirements and the rules around advertising to local users. Some platforms cleaned up their act. Others didn’t.
The court’s first ruling landed September 15. It named BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase, LBank and WEEX as the operators in violation. Then, on September 18, the court amended its judgment — LBank got pulled from the order after its operator independently cut off access to its services for Kazakhstan-based users. Six platforms remained under injunction.
What the Injunctions Actually Cover
The restrictions aren’t just about trading. Each of the six operators is barred from providing unauthorized digital asset services within the AIFC and to users in its territory. They can’t advertise those services there either. And they can’t distribute mobile apps designed to offer unlicensed digital asset services through app stores.
That last part is pretty significant. The court’s order reaches Google and Apple directly, as app store operators. AFSA was preparing to send formal documents to both companies to enforce geographic access restrictions. So it’s not just a matter of the platforms flipping a switch — the regulator is going after the distribution layer too.
One thing that’s still murky: AFSA didn’t say whether the six platforms had stopped all operations across Kazakhstan more broadly. The court’s order specifically covers the AIFC and its users, plus app access where the order applies. Whether any wider shutdown happened elsewhere in the country isn’t clear from the announcement.
On top of the operational restrictions, the six operators must pay roughly 1.995 million Kazakhstani tenge in combined legal costs and court fees.
AFSA’s Enforcement Timeline and Wider Sweep
AFSA chief executive Evgeniya Bogdanova said the injunctions were the result of work by the authority’s Supervision and Enforcement teams. The process started with those 2025 written warnings, escalated when some platforms kept operating without authorization, and ended up in court.
Not everyone ended up in the courtroom, though. Nine other platforms voluntarily restricted access to their apps in Kazakhstan through Google Play and Apple’s App Store. AFSA withdrew its claims against those operators. The authority didn’t name them.
And a further seven platforms told AFSA they want to get licensed to run digital asset trading facilities. The regulator didn’t name those applicants either, and didn’t confirm whether any had actually received authorization yet. Unclear if that process is moving fast or stalling.
The court also addressed what happens when unlicensed platforms compete against licensed ones. Licensed operators carry real costs — customer identification, anti-money laundering controls, counterterrorist financing measures, ongoing regulatory supervision. Businesses running without authorization can skip those expenses entirely. AFSA made the point that customers on unlicensed platforms don’t get the protections that licensed firms are required to provide: asset custody rules, information disclosure, complaint handling, dispute resolution. The authority didn’t point to specific customer losses or individual cases tied to the six operators, but the warning was clear enough.
AFSA has been working with the National Bank of Kazakhstan on unauthorized digital asset activity since May 2026. And the AIFC court action fits into a broader enforcement pattern in the country. Back in January 2026, a report said access to more than 1,100 unlicensed cryptocurrency exchange platforms had been blocked over the previous year. That’s a lot of platforms.
Before the court ruling, AFSA also put out a separate April 29 warning naming HTX, OKX, Bitget and MEXC — reminding operators to get regulatory approval before serving customers in Kazakhstan. That warning was distinct from the injunctions against the six. OKX, Bitget and MEXC weren’t part of the court order.
Users who want to know which companies are actually authorized to operate can check AFSA’s public register. It lists firms approved under the AIFC framework and the specific digital asset services each one is permitted to offer.
AFSA was still preparing the court documents to send to Google and Apple at the time of the announcement, so the app-level enforcement hadn’t fully landed yet as of the announcement date.
Frequently Asked Questions
Which crypto platforms did Kazakhstan’s AIFC Court restrict?
The injunctions cover BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX. LBank was initially named but removed from the order on September 18 after its operator independently restricted access in Kazakhstan.
What do the court’s restrictions actually prohibit?
The six operators cannot provide unauthorized digital asset services within the AIFC, advertise those services there, or distribute apps for unlicensed services through app stores. Google and Apple are within scope of the order as app store operators.
How much must the six platforms pay in legal costs?
The six operators must collectively pay approximately 1.995 million Kazakhstani tenge in legal costs and court fees as part of the judgment.
