Introduction
Kazakhstan authorities have confirmed that they have blocked access to the cryptocurrency exchange Coinbase, following reports of the action on social media. This move comes as the Kazakh government seeks to tighten its grip on the crypto industry in the country.
Kazakh Government’s Stance on Cryptocurrency
The Kazakh government has been taking a hard-line stance on cryptocurrency trading and mining in the country. In June 2021, the government announced that it would impose a 15% tax on all cryptocurrency mining operations. The government also stated that it would require all cryptocurrency miners to be registered and licensed.
Reports of Coinbase’s Blockage
Reports of Coinbase’s blockage in Kazakhstan first surfaced on social media, with several users claiming that they were unable to access the platform. Some users speculated that the blockage may be related to the government’s recent crackdown on cryptocurrency activities in the country.
Confirmation of the Blockage
The blockage of Coinbase in Kazakhstan was later confirmed by the country’s National Security Committee (NSC). In a statement, the NSC said that it had taken action against several cryptocurrency exchanges, including Coinbase, for “violating the country’s laws on financial activity and money laundering.”
Conclusion
The blockage of Coinbase in Kazakhstan is the latest in a series of moves by the Kazakh government to tighten its control over the cryptocurrency industry in the country. While some crypto enthusiasts in Kazakhstan have criticized the government’s actions, others see it as a necessary step to prevent illegal activities and protect investors.
