The Ministry of Culture and Information in Kazakhstan has blocked access to Coinbase, a prominent cryptocurrency exchange, along with select online brokerage websites. This action is in accordance with Kazakhstan’s “Digital Assets Law,” which regulates the issuance and circulation of digital assets within the country. The law aims to create a structured regulatory environment for the cryptocurrency sector and provide guidelines for online brokers. Under the new rules, the issuance and circulation of unbacked digital assets are prohibited unless conducted within the Astana International Financial Center (AIFC). Companies offering services related to digital assets must obtain a license from the Astana financial watchdog. Coinbase, being in violation of these regulations, had its website blocked. The government’s actions reflect its commitment to enforcing financial regulations in the rapidly evolving cryptocurrency industry. In addition to Coinbase, websites affiliated with Interactive Brokers and NYMEX were also blocked, but later unblocked after requests were submitted to restore them. These regulatory actions have sparked discussions and concerns within the financial community, with some experts questioning the broadness and potential errors of the measures. The impact of these actions on digital asset exchanges and brokers operating in Kazakhstan remains a subject of ongoing interest and discussion.

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Information	Details
Geography	Asia
Countries	🇰🇿
Sentiment	neutral
Relevance Score	1
People	None
Companies	Astana International Financial Center (AIFC), Bybit, Coinbase, Binance, New York Mercantile Exchange (NYMEX)
Currencies	Ethereum, Bitcoin
Securities	None