Kazakhstan to Launch National Registry of Criminal Crypto Wallets

Kazakhstan is ramping up efforts to regulate digital assets. The Astana International Financial Centre (AIFC) is expanding rules for crypto exchanges and payment systems, while the Financial Monitoring Agency (FMA) is implementing FATF standards and creating a national registry of criminal crypto wallets, Orda.kz reports.

The Senate held a session dedicated to the development of the digital asset industry in Kazakhstan.

In the first nine months of 2025, trading volume on AIFC-based crypto exchanges exceeded 5.6 billion dollars. The volume of tokenized assets reached 200 million dollars. The market is growing rapidly, and regulations within the AIFC are being updated accordingly — amendments have already been adopted for digital assets and payment operations, including cryptocurrency transactions.

The AIFC was recognized among just four jurisdictions worldwide fully aligned with IOSCO standards.

In October 2025, the international organization listed the AIFC as one of only four countries fully compliant with its ten key benchmarks.

This was announced by Rashid Orazbek, head of the Department of Operational Analysis.

FATF (Financial Action Task Force) is an international body that develops global standards for combating money laundering. In simple terms, it is the financial watchdog that ensures criminal money cannot freely circulate across borders.

Orazbek outlined how FATF recommendations are being embedded into Kazakh legislation on digital assets:

One of the main sub-criteria of the recommendations is compliance with the so-called travel rule. This means that providers must identify both sides of a transaction and have information about counterparties. In addition, providers must collect and store this information and provide it upon request from an authorized body. If there is no information about the counterparties, the transaction will be suspended until such information is submitted. If the information is not provided within the specified period, the transaction will be rejected.

Key regulatory changes include:

• Licensing of Virtual Asset Service Providers (VASPs)
• All crypto exchanges, exchangers, custodial services, and related platforms must now obtain licenses and comply with AML/CFT regulations.
• Full implementation of the travel rule

Providers are required to

• Identify senders and recipients of transactions
• Store counterparty data
• Share it with authorities upon request. Transactions will be blocked or rejected if this information is absent

Without this data, transactions will be blocked — and if the information is not provided, they will simply be rejected. A separate rule prohibits working with unlicensed providers. These measures are intended to prevent the use of digital assets for money laundering and illegal financial activities.

One of the most significant reforms is the creation of a national registry of crypto wallets linked to criminal activity.

The registry will:

• Record addresses involved in fraud, laundering, and illegal financing
• Automatically flag high-risk transactions for providers
• Block transfers until the origin of funds is verified
• Support investigations and transaction tracing

Orazbek emphasized that FATF directly recommends such registers as a tool for risk assessment and rapid response.

The system is expected to limit the “grey” crypto market, increase transparency among VASPs, and strengthen consumer protection.

Original Author: Ilya Astakhov