Kazakhstan’s Ministry of Culture and Information has blocked the Coinbase website. Ministry officials explained to reporters that the request came from another government body, the Ministry of Digital Development, which accused Coinbase
The Digital Assets Act, passed in February 2023, prohibits the issuance and trading of digital currencies, as well as cryptocurrency exchange transactions without a national license. Permission to operate is issued by the management of the Astana International Financial Center (AIFC), a special economic zone of Kazakhstan.
Kazakhstan authorities block access to Coinbase
The Information Committee of the Ministry of Culture and Information received a request from the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan to block the Internet resource www.coinbase.com, which violates paragraph 5 of Article 11 of the Law of the Republic of Kazakhstan “On Digital Assets in the Republic of Kazakhstan”.. Firms can offer FinTech and RegTech services without immediately complying with all regulatory requirements. AFSA will then consider the company’s offer of admission to the FinTech Lab.
AfSA will then consider the company’s offer of admission to the FinTech Lab.