The Astana Financial Services Authority (AFSA) issued a public alert warning that “MBus Exchange” is using the AFSA logo without authorisation and may be misleading users into believing it is regulated by AFSA. AFSA identified social media accounts operating under the name “MBus Exchange” offering cryptocurrency exchange services without authorisation and confirmed the entity is not licensed by AFSA. Following an investigation, AFSA found that no entity under this or a similar name is registered in the Astana International Financial Centre or holds an AFSA financial services licence. AFSA stated the activities display characteristics of potential criminal offences, including Fraud (Article 190) and Illegal Business Activity (Article 214) under the Criminal Code of the Republic of Kazakhstan, and urged the public to verify firms via AFSA’s Public Register and avoid any contracts or transfers of funds connected to the project.
Astana Financial Services Authority 2025-04-09
Astana Financial Services Authority warns MBus Exchange is unlicensed and misusing the AFSA logo
The Astana Financial Services Authority (AFSA) issued a public alert regarding "MBus Exchange" for unauthorized use of the AFSA logo and misleading claims of regulation. AFSA confirmed that "MBus Exchange" is not licensed and its activities may constitute potential criminal offences under Kazakhstan's Criminal Code. The public is advised to verify firms through AFSA’s Public Register and avoid engaging with the entity.