Only exchanges that are residents of the financial hub are authorized to provide crypto trading services in the Central Asian nation. The company reportedly sent 400 million from the account. The watchdog pointed out that its operations were conducted outside the Astana International Financial Center (AIFC). Reuters reported earlier this month that Binance had secret access to a bank account belonging to its purportedly independent US partner. The entity had another $23,000 worth of crypto assets in two wallets on Binance, the world’s largest crypto exchange, which have been temporarily restricted, the statement detailed.Īccording to the FMA, ABS Change transferred a total of $34 million through Binance. Any documents and communications relating to a reported 2018 plan to create a company called the Tai Chi entity that would. The SAFU fund wallets were initially stocked with BNB, BUSD, and BTC. Three Kazakhstani citizens have been accused of running the exchange which carried out its activities without a license since 2021.ĭuring an operation in the country’s capital city, law enforcement officials confiscated $342,000 and 7 million tenge (almost $16,000) in cash. Binance News: Back on January 29, 2022, Binance unveiled the Secure Asset Fund for Users (SAFU), which is an emergency insurance fund valued at 1 billion to safeguard its users from any catastrophic event. Digital Asset Exchange Making Millions in Turnover Closed Down in KazakhstanĪ platform illegally trading cryptocurrencies in Kazakhstan, ABS Change, has been identified and shut down, the country’s Financial Monitoring Agency (FMA) announced on Telegram. The exchange token is changing hands at 317. dollar manifested itself in a wrong order, costing traders 50,000 per Bitcoin ( BTC ), albeit for several minutes. Binance’s native token BNB continued its recovery, yielding 1.2 gains for holders since Wednesday. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have been blocked during the ongoing investigation. The panic caused due to USD Coin’s ( USDC) depeg from the U.S. Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000.
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