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Kazakhstan court bars Coinbase, five others from unlicensed crypto services in Astana International Financial Centre
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Kazakhstan’s financial regulator secured court orders restricting Coinbase and five other crypto platforms from offering services without authorization in the Astana International Financial Centre (AIFC).
Key facts
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- The Astana Financial Services Authority (AFSA) said that the injunctions cover BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX
- LBank was named in the initial proceedings, and was removed on Sept. 18 after addressing AFSA’s concerns
- Coinbase had previously faced restrictions in Kazakhstan in 2023, when authorities blocked its website over alleged violations of the country’s digital asset law
Summary
Kazakhstan’s AIFC Court barred Coinbase and five other crypto exchanges from offering unlicensed services inside the Astana financial center. The court injunctions apply strictly to users within the AIFC and do not extend across the rest of Kazakhstan. LBank was removed from the order after resolving AFSA concerns, while Apple and Google face potential app-store duties once served. The Astana Financial Services Authority (AFSA) said that the injunctions cover BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX.