Kazakhstan's Financial Monitoring Agency (FMA) has shut down the RAKS crypto exchange, freezing $224 million in funds associated with internet fraud and drug trafficking. The closure, executed on September 29, 2025, impacts up to 5 million darknet users. This action is part of Kazakhstan's broader initiative to enhance anti-money laundering measures and promote regulated exchanges.
Kazakhstan Closes RAKS Crypto Exchange, Freezes $224M in Illicit Funds
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