Kazakhstan court blocks Coinbase and five exchanges from unlicensed services in AIFC
Kazakhstan’s Astana International Financial Centre (AIFC) court issued an injunction that stops Coinbase and five other crypto platforms from providing unlicensed digital‑asset services within the centre. The order also bars the distribution of related mobile apps and applies only to users located in the AIFC, not to the rest of the country. LBank was removed from the order after it addressed regulator concerns, while Apple and Google may face app‑store duties pending further discussion with the regulator.
Why it matters
The restriction limits Coinbase’s ability to serve users in Kazakhstan’s financial hub, adding a regulatory risk that could affect its regional revenue. The broader crypto market may see heightened scrutiny as the regulator also targets app‑store operators.
Key facts
- 1The AIFC court barred Coinbase and five other exchanges – BingX, Bitcoin.com, Huobi Global (HTX), BitMart and WEEX – from offering unlicensed services in the centre. coindesk.com
- 2The injunction applies only to users within the Astana International Financial Centre and does not extend nationwide. coindesk.com
- 3Judge Sir Stephen Richards issued the judgment on Sept. 15, stating the orders are limited to the AIFC. coindesk.com
- 4LBank was removed from the order on Sept. 18 after it resolved the regulator’s concerns. coindesk.com
- 5Apple and Google were named as app‑store operators that may face duties once the regulator discusses next steps with them. coindesk.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.