kazakhstan

The Financial Monitoring Agency (FMA) of Kazakhstan announced on September 29 that it has completely dismantled a major cryptocurrency exchange service involved in laundering over $224 million derived from illicit drug trafficking and internet fraud. The crackdown highlights aggressive regulatory efforts to curb crypto-related financial crime in the region.

Links to Darknet and Money Laundering Operations
The dismantled service, identified by some media outlets as the RAKS crypto exchange, had a high reputation within the criminal underworld and actively facilitated large-scale illegal financial activities.
Criminal Reach: The platform reportedly collaborated with over 20 of the largest darknet markets that served more than five million users.Drug Trafficking: Over the past three years, the exchange played a crucial role in laundering funds for more than 200 drug stores operating across CIS (Commonwealth of Independent States) countries, including Russia, Ukraine, and Kazakhstan.
Financial Blow and Asset Freeze
The FMA utilized sophisticated crypto investigation techniques to track and freeze the illicit funds, delivering a significant economic blow to the criminal enterprise.
Investigation Scope: The complex crypto investigation involved analyzing over 4,000 cryptocurrency wallets. Investigators successfully identified specific "aggregator wallets" used to store and consolidate the illicit funds.Assets Frozen: The FMA successfully blocked a total of 67 cryptocurrency wallets belonging to the service, securing digital assets valued at $9.7 million USDT.
The FMA stated that these decisive actions inflicted a substantial economic blow to the drug trafficking infrastructure, destabilized supply chains, and undermined consumer confidence in illegal platforms. The agency is currently focused on actively identifying and apprehending the organizers of the defunct cryptocurrency service.
#Binance #wendy #Kazakhstan $BTC

Kazakhstan has officially launched the Alem Crypto Fund, marking a bold step into the world of institutional crypto finance. The fund aims to attract global capital while strengthening the country’s digital economy.
Its first investment is Binance Coin (BNB), a strategic choice that highlights Binance’s global influence and the utility of BNB across blockchain ecosystems. By backing BNB, Kazakhstan signals its intention to become more than just a Bitcoin mining hub.
This move positions Kazakhstan as a nation looking beyond oil and gas, aiming to secure a role in the financial technologies of the future. If successful, the Alem Crypto Fund could serve as a blueprint for other countries balancing regulation with blockchain innovation.
#Kazakhstan #CryptoFund #BNB #Blockchain

Evo, un stablecoin respaldado por el tenge, fue lanzado hoy por el Banco Nacional de Kazajistán. El stablecoin se presenta junto a Mastercard y Solana, una importante plataforma de contratos inteligentes.
Kazajistán lanza el stablecoin Evo impulsado por Solana
Kazajistán lanzó hoy una prueba para su stablecoin respaldado por el tenge, Evo. La moneda de Kazajistán es el tenge.
El comunicado establece que otros jugadores del sandbox regulatorio de activos digitales supervisarían la emisión de Evo. La bolsa de criptomonedas Intebix y el Banco de Eurasia podrían gestionar el stablecoin Evo.
Los inventores llaman a Evo el “stablecoin nacional” y quieren usarlo para conectar la blockchain y la banca convencional. El stablecoin ampliará las puertas de enlace cripto-fiat, cambiará activos digitales y facilitará transacciones con tarjetas cripto.
Evo funcionará en Solana, una plataforma de contratos inteligentes de baja latencia y alto rendimiento. Una experiencia de pago fluida y una amplia aceptación del stablecoin en Kazajistán dependen de la infraestructura de rápido crecimiento de Solana.
Solana impulsa el stablecoin y firmó un MoU con el Ministerio de Desarrollo Digital de Kazajistán para desarrollar una zona económica blockchain.
El #Kazakhstan Banco Nacional no emitirá el stablecoin directamente. En cambio, el regulador proporcionará a los emisores de stablecoin una base legal. El marco probará Evo y hará crecer la industria de la moneda virtual.
El Gobernador del Banco Nacional de Kazajistán, Timur Suleimenov, destacó la relevancia del proyecto piloto, diciendo que las criptomonedas y la tecnología blockchain podrían aumentar la accesibilidad financiera.
Crecimiento en stablecoins domina
A pesar del auge de Bitcoin (BTC) y Ethereum (ETH), los stablecoins también están ganando popularidad.
Por ejemplo, los bancos surcoreanos supuestamente están en negociaciones con Circle y Tether para crear un mercado para stablecoins respaldados por won. Standard Chartered también podría solicitar una licencia de stablecoin en Hong Kong.
#AltcoinStrategicReserves #PerpDEXRace #solana $SOL

KZTE, also known as Evo, is a newly launched stablecoin from Kazakhstan, pegged 1:1 to the country’s national currency, the tenge.
It is being developed under Kazakhstan’s Digital Assets Regulatory Sandbox framework, allowing for testing under regulatory oversight.
Key partners in the project include:
Intebix (a local crypto exchange)
Eurasian Bank
Mastercard
The National Bank of Kazakhstan (as regulator)
The Solana blockchain (on which KZTE is issued)
Why Launch KZTE?
1. Bridging Traditional Finance & Digital Assets
A stablecoin pegged to the national fiat currency can help bridge the gap between conventional banking and digital/crypto systems. It enables easier crypto ↔ fiat conversions and can usher more people into digital finance.
2. Faster and Cheaper Transactions
Using the Solana blockchain gives KZTE advantages like low fees, high throughput, and fast confirmations — useful for payments, transfers, and retail use cases.
3. Financial Inclusion & Modernization
Kazakhstan is aiming to modernize its finance sector, improve access to digital financial services, and promote innovation in payments and banking. KZTE is part of that push.
4. Control & Regulation
Because the project runs via a regulatory sandbox, Kazakh authorities can monitor, adjust, and set rules early on. This reduces risk and helps build trust.
How KZTE Works (Key Features)
Feature Description
Peg 1:1 to the Kazakhstani tenge (KZT)
Blockchain Issued on the Solana network
Issuers Intebix & Eurasian Bank (under regulatory oversight)
Regulation Operates in the National Bank’s digital‐asset sandbox
Integration Mastercard helps connect KZTE with global payment & stablecoin networks
Use Cases Day-to-day payments, crypto ↔ fiat bridges, cross-border transfers, card spending via stablecoin balances
Challenges & Risks
Adoption: Convincing citizens, merchants, and financial institutions to use a new stablecoin.
Liquidity & Reserves: Ensuring full backing and transparency in reserve assets is crucial.
Regulatory & Legal: Navigating regulatory compliance, money laundering concerns, and cross-border legalities.
Competition & Market: Other stablecoins, CBDCs, or traditional systems may compete.
Technical Risks: Blockchain exploits, smart contract vulnerabilities, or scaling issues.
Potential Impact & Outlook
If KZTE succeeds, it could become a model for how nation-backed stablecoins work in emerging markets. It may:
Accelerate digital payments and reduce reliance on cash in Kazakhstan.
Help with cross-border settlements, particularly in Central Asia.
Encourage other countries to explore national stablecoins in tandem with CBDCs.
Strengthen Kazakhstan’s position in the crypto + fintech landscape.
Given it is in a pilot phase, its long-term success will depend on trust, regulatory clarity, adoption rates, and the strength of its technical and financial Infrastructure
#Kazakhstan