The Ministry of Culture and Information of Kazakhstan has taken action to block the website of Coinbase.
According to reports, the department was contacted by the Ministry of Digital Development, Innovation, and Aerospace Industry with a request to block the site, as it was found to be violating the country’s laws on digital asset regulation.
These laws state that the issuance and use of cryptocurrencies must be conducted solely within the framework of the Astana International Financial Center.
In order for Coinbase to operate in Kazakhstan, it would need to obtain a license from the Astana Financial Services Regulatory Authority (AFSA), which it currently does not have.
However, several other crypto companies, including Binance, CaspianEx, Biteeu, ATAIX, Upbit, Xignal&MT, and Bybit, have obtained licenses and are legally operating in the country.
Binance, the world’s largest cryptocurrency exchange, was granted its license in June 2023 and has registered in Kazakhstan as a provider of digital asset storage and exchange services.
