Astana Financial Services Authority warns Kazakhstan residents of risks from unlicensed crypto platforms including OKX, HTX, Bitget and MEXC

The Astana Financial Services Authority (AFSA) issued a consumer warning and market reminder that the organisation of circulation of digital assets in the Republic of Kazakhstan is prohibited without an appropriate licence or authorisation under the Astana International Financial Centre (AIFC) framework or Kazakhstan’s legislation. It cautioned against using unlicensed crypto and digital-asset trading platforms that advertise or promote services to Kazakhstan residents, highlighting in particular platforms known as OKX, HTX, Bitget and MEXC. AFSA flagged risks from dealing with unlicensed platforms, including limited legal recourse due to lack of regulatory oversight, higher exposure to fraud and illicit activity where anti-money laundering and counter-terrorist financing controls are insufficient, and increased losses from misleading or aggressive promotions such as bonuses and referral campaigns. It also pointed to heightened cybersecurity and data-protection risks that can lead to personal data breaches, restricted account access, technical failures, and difficulties withdrawing funds, and noted that unlicensed platforms may offer complex products such as margin trading, derivatives, staking and peer-to-peer services without safeguards and disclosures typically expected from regulated entities. AFSA emphasised that a platform’s international profile, website, mobile app, social media presence or heavy advertising does not indicate authorisation, and recommended that consumers verify regulatory status through the AFSA Public Register, avoid transferring funds or sharing sensitive information where status cannot be confirmed, and document and report suspicious advertising through official channels.