The Astana International Financial Centre (AIFC) Court in Kazakhstan has issued a default judgment against six cryptocurrency exchanges, prohibiting them from offering or marketing digital asset services within the country without authorization from the Astana Financial Services Authority (AFSA). The ruling, dated September 15, 2026, affects platforms including Coinbase, BingX, Bitcoin .com, HTX, BitMart, and WEEX.
These exchanges did not appear in court to contest the claims, leading to the default judgment. The court order mandates that these entities cease providing or promoting digital asset services to users in Kazakhstan or within the AIFC unless they obtain the necessary AFSA authorization. The six operators are also jointly responsible for the claimant’s legal costs, estimated at approximately KZT 2 million.
The judgment enforces Kazakhstan’s 2023 Law on Digital Assets. As per Kazakhstan’s 2023 Law on Digital Assets, only entities licensed within the AIFC are permitted to conduct activities involving unsecured digital assets. This legal framework aims to regulate the digital asset market and ensure compliance among service providers.
In a variation order on September 18, 2026, the AIFC Court removed LBank from the injunction. Nine other cryptocurrency platforms had previously ceased operations for Kazakh users voluntarily, leading to the dismissal of claims against them.
This regulatory action may lead to market consolidation, potentially benefiting licensed operators such as Binance Kazakhstan and Bybit Kazakhstan, which are already operating within the AFSA’s framework. Users of the barred platforms may face restricted access to services and will likely need to migrate to licensed venues, adhering to their respective onboarding and verification processes.
Coinbase, one of the platforms named in the order, has had previous encounters with Kazakh authorities. The exchange faced access restrictions in Kazakhstan in 2023 due to similar regulatory non-compliance issues. While the stakes in Kazakhstan may be relatively small for Coinbase’s global operations, being listed among unlicensed operators presents an “awkward look,” particularly for a company that has positioned itself as compliance-first.
The practical effect for traders in Kazakhstan is a reduction in available choices for digital asset services. The long-term impact on user migration patterns and whether the barred exchanges will seek licensing remain uncertain. The AIFC Court’s action underscores the growing emphasis on regulatory compliance for digital asset service providers operating in Kazakhstan.
Why This Matters
The materials describe a narrow update: The AIFC Court issued a default judgment prohibiting six crypto platforms (Coinbase, BingX, Bitcoin. The specific actions taken by the six barred platforms following the court order.
Broader Context
Source materials place the factual news in this context: Kazakhstan just gave six crypto platforms a choice: get licensed or get out.
