AIFC Court Issues Injunctions Against Operators of Several Unlicensed Crypto Platforms
The Astana Financial Services Authority (AFSA) announces that, following legal proceedings initiated by AFSA, the AIFC Court has issued injunctions against the operators of several unlicensed crypto platforms. On 15 September 2026, the AIFC Court granted AFSA’s claims and issued a judgment and order prohibiting the operators of BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase, LBank and WEEX from providing, offering or advertising digital asset-related services, as well as distributing or making mobile applications available through any platform for the purpose of providing such services within the AIFC without the appropriate licence.
The operator of LBank subsequently took independent measures to block access to its services in Kazakhstan. As a result, on 18 September, the AIFC Court amended its judgment and order to remove the operator from the list. Accordingly, the injunctions currently apply to the operators of BingX, Bitcoin.com, Huobi Global (HTX), BitMart, Coinbase and WEEX.
In its judgment, the Court emphasised that providing digital asset-related services without authorisation undermines the integrity of the AIFC regulatory framework. It also creates unfair competition for licensed market participants, who incur costs associated with complying with anti-money laundering and counter-terrorist financing (AML/CFT) requirements, conducting customer due diligence and meeting regulatory supervision requirements.
The Court’s decision also applies to Google and Apple, as operators of application stores, in relation to geographically restricting access to the services of the platforms listed above.
Evgeniya Bogdanova, Chief Executive Officer of AFSA, commented: “This Court decision is the result of extensive and consistent efforts by AFSA’s Supervision and Enforcement teams to address the activities of unlicensed crypto platforms that were advertising without authorisation and offering digital asset-related services in Kazakhstan without the required permission.
This work began in 2025, when AFSA issued written warnings to more than 20 crypto platforms to explain and raise awareness of the requirements of the AIFC regulatory framework. In early 2026, AFSA initiated proceedings before the AIFC Court seeking injunctions against platforms that continued operating without a licence. The relevant Court orders will be sent to the operators of Google Play and the Apple App Store to restrict access to these services.
As a result of these efforts, nine crypto platforms voluntarily restricted access to their applications in Kazakhstan through Google Play and the Apple App Store, following which AFSA withdrew its claims against them. A further seven platforms expressed their intention to obtain an AFSA licence to operate digital asset trading facilities. For the remaining six crypto platforms, access restrictions will be enforced on the basis of the Court injunctions.
AFSA continues to monitor illegal activities in this sector and, since May 2026, has been carrying out this work in close cooperation with the National Bank of the Republic of Kazakhstan, the national regulator responsible for digital asset activities.”
AFSA reminds the public that unlicensed platforms operate outside regulatory supervision. Their clients do not benefit from the protections provided by the requirements applicable to licensed firms, including those relating to the safeguarding of assets, disclosure of information, complaints handling, and dispute resolution. The Court’s decision is also intended to protect users from these risks.
A list of companies licensed by AFSA to provide digital asset-related services is available in the Public Register on the AIFC regulator’s official website.
Reference:
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition, and supervision of financial firms and market institutions in the AIFC. afsa.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and businesses meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. aifc.kz
Public Relations and Communications Division of AFSA, [email protected]