In Kazakhstan, the organizer of a crypto exchange was sentenced to 2.5 years in prison
Date: 2025-03-14 Author: Henry Casey Categories: IN WORLD
In September 2020, the accused, being a minor, began offering cryptocurrency exchange services by posting ads in the Telegram messenger and on the OLX platform. To carry out transactions, he asked his older brother to register an account on Binance, and later created several accounts in the names of relatives to avoid blocking.
From 2021 to 2024, he managed to carry out transactions for a total of 5.6 billion tenge (about $ 11.4 million), charging a commission of 0.5% to 2.5% for each transaction. With the proceeds, he purchased a Mitsubishi car, which was later confiscated. In addition, the court ordered the seizure of 5,172 USDT from him.
In 2024, the Kazakh authorities closed 36 illegal crypto exchangers, whose total turnover amounted to 60 billion tenge ($122 million). Earlier, the country's President Kassym-Jomart Tokayev emphasized the importance of creating a legal infrastructure for the circulation of digital assets and developing an appropriate legislative framework.
