AIFC Court Cites Compliance Costs in Injunctions Against Six Platforms

The Astana International Financial Centre court said licensed crypto firms face costs for financial-crime controls, customer checks and regulatory oversight, citing that burden as part of its rationale for injunctions against operators of six platforms. The court said unauthorized services weaken the center’s regulatory framework and put licensed competitors at a disadvantage. Firms with authorization must pay for anti-money-laundering and counter-terrorist-financing controls, customer due diligence and supervision. The Sept. 15 judgment bars operators of Coinbase, BingX, Bitcoin.com, Huobi Global (HTX), BitMart and WEEX from providing or promoting digital-asset services without authorization inside the center.

Source: TokenPost