Kazakhstani officials say U.S. cryptocurrency exchange Coinbase violated local laws.
Cryptocurrency exchange Coinbase has been blocked in Kazakhstan as the country attempts to force all trading companies to comply with the local regulatory environment.
according to a Report According to local news outlet Kursiv, authorities restricted access to Coinbase after the Ministry of Culture and Information of the Republic of Kazakhstan received a notification from the Ministry of Digital Development.
The latest accusation is that Coinbase violated local digital asset laws, which came into effect in February 2023 and require cryptocurrency trading companies to obtain a license from the Astana International Financial Center (AIFC). As Kursiv noted, cryptocurrency exchanges such as Binance, Upbit, and Bybit have obtained licenses and provide services in the region.
In addition to Coinbase, Kazakhstan also banned the New York Mercantile Exchange and American multinational brokerage Interactive Brokers.
As of press time, Coinbase has not issued a public statement on the matter.
Crypto.news was unable to immediately verify the report, but has learned that Coinbase no longer appears to provide a list of supported countries on its website.
While a link to the supported countries page is still visible on the help center page, it redirects to the exchange’s homepage, making it unclear in which regions Coinbase can offer its services.