Kazakhstan court bars Coinbase, five others from unlicensed crypto services in Astana International Financial Centre
A Kazakhstan court has issued injunctions against six major cryptocurrency platforms, including Coinbase and Huobi, for operating without a license within the Astana International Financial Centre. The ruling mandates that these platforms cease offering services and marketing to users within the specific financial hub.
Why it matters
This highlights the increasing regulatory pressure on global crypto exchanges to comply with local jurisdictional frameworks in emerging financial hubs.
The Astana Financial Services Authority (AFSA) said that the injunctions cover BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX. The orders prohibit the platforms from offering or marketing unlicensed digital asset services and distributing mobile apps for those services within the center.
The restrictions do not amount to a nationwide ban. In a Sept. 15 judgment , Justice Sir Stephen Richards said the injunctions apply only to the AIFC and users located there.
The Astana International Financial Centre is a financial hub in Kazakhstan’s capital that operates under its own legal framework and regulator. It requires crypto firms to obtain a license to offer services within the center.
The order also binds Google and Apple as app-store operators, though the court declined to issue a separate injunction against them, saying AFSA should first discuss necessary steps with the firms.
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