Kazakhstan court bars Coinbase, HTX and four other exchanges from its financial hub and orders Apple and Google to block their apps

A court in Kazakhstan has barred Coinbase, HTX and four other crypto exchanges from offering services in the Astana International Financial Centre without a license, and told Apple and Google to restrict access to their apps. The regulator, the AFSA, won the injunctions on September 15 after warning more than 20 platforms in 2025.

Kazakhstan crypto regulation expands enforcement against unlicensed exchanges

The injunctions represent an escalation of enforcement efforts that began with warnings to cryptocurrency platforms about their licensing obligations.

According to AFSA CEO Evgeniya Bogdanova, the regulator started issuing written warnings to more than 20 cryptocurrency platforms in 2025, informing them of the AIFC’s authorization requirements.

In early 2026, the authority initiated legal proceedings against platforms that continued operating without the necessary authorization. Since May, it has also coordinated with the National Bank of Kazakhstan to monitor unauthorized activity across the digital asset sector.

The court subsequently granted the regulator’s claims on September 15, giving the authority a legal basis to pursue restrictions against platforms that remained noncompliant.

The action highlights a central element of Kazakhstan crypto regulation: cryptocurrency businesses seeking to provide services within the AIFC must obtain the appropriate authorization rather than rely solely on their ability to operate online.

The AIFC was established in 2018 to attract international businesses and investment. It operates under a special regulatory framework with its own financial regulator, stock exchange and dispute-resolution institutions.

Its activities span traditional financial services, financial technology and digital assets, making regulatory oversight an important part of its efforts to attract businesses while maintaining investor protections.

For cryptocurrency exchanges, the latest ruling establishes a clear distinction between platforms that secure authorization, those that voluntarily restrict their services and those that continue to face enforcement proceedings.

Google and Apple face geographic access restrictions

The court order introduces an additional enforcement mechanism by requiring Google and Apple to restrict geographic access to the affected platforms through their app stores.

This approach extends the regulator’s reach beyond the exchanges themselves. Rather than relying exclusively on legal action against individual operators, the restrictions also address how users in Kazakhstan can access the platforms through mobile applications.

The regulator said nine platforms voluntarily restricted access to their applications in Kazakhstan. As a result, AFSA withdrew its claims against the operators concerned.

LBank followed a similar route after the original order was issued. The platform was initially included among the seven targets but was removed from the proceedings on September 18 after independently blocking access to its services in the country.

Meanwhile, seven additional platforms have expressed an intention to apply for licenses from AFSA.

The regulator has not identified those seven platforms in the supplied announcement. Their stated intention to seek authorization also does not establish that their applications have been approved or that they have already obtained licenses.

For the six operators still covered by the injunctions, access restrictions will be enforced under the court’s decision.

These developments illustrate how Kazakhstan crypto regulation combines legal proceedings with voluntary compliance and restrictions on digital distribution channels.

They also show that the regulator is pursuing multiple responses to unauthorized activity, including removing platforms from the market and encouraging operators to enter the formal licensing system.

AIFC argues unlicensed crypto services create unfair competition

The court’s decision also addresses the potential consequences of allowing cryptocurrency businesses to operate without meeting the AIFC’s regulatory requirements.

According to the court’s reasoning, unlicensed services undermine the financial hub’s regulatory framework and create unfair competition for companies that have obtained authorization.

Licensed firms must meet compliance obligations that include anti-money laundering (AML) and counter-terrorist financing (CTF) controls, customer due diligence and ongoing supervisory requirements.

These obligations impose operational costs on authorized businesses. Platforms that operate without comparable oversight may avoid some of those expenses, potentially creating an uneven competitive environment.

The ruling therefore frames the restrictions as a measure to protect the integrity of the AIFC’s regulatory system, rather than simply an attempt to limit access to cryptocurrency exchanges.

The distinction is significant for Kazakhstan crypto regulation because the framework requires businesses operating within the financial centre to meet established standards, regardless of whether they provide traditional financial products or digital asset services.

The regulator’s approach also places responsibility on exchanges to assess whether their activities require authorization and to take appropriate action when they cannot meet the applicable requirements.