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Crypto

Kazakhstan steps up crackdown on unlicensed crypto platforms, targeting Coinbase too

A Kazakhstan court has ordered Apple and Google to block access in the country to several foreign cryptocurrency platform apps, including Coinbase and HTX, the Astana Financial Services Authority said. The platforms listed cannot offer or advertise digital asset services within the Astana International Financial Centre until they obtain an AIFC licence. The court said unlicensed activity undermines the regulatory framework and creates unfair competition for licensed firms.

Crypto

Bitcoin rebound driven by derivatives market; sustainability uncertain

Bitcoin rose to around $64,500, pushing short-position liquidations to their highest daily level in about a month. The move was driven more by a short squeeze in derivatives markets than by spot buying, Cointelegraph reported. CryptoQuant said crowded short positioning and diverging funding rates helped lift prices, but called the rally a low-volume liquidity trap. It flagged weak spot demand and limited inflows into spot bitcoin ETFs as key constraints.

Crypto

Russian state bank Sberbank steps up crypto trading infrastructure, aims for Dec. 1

Russia\'s largest bank Sberbank plans to build cryptocurrency trading infrastructure by Dec. 1, including a digital depository for recording ownership and processing most transactions off the main blockchain. It also plans to operate active wallets for deposits, withdrawals and transfers. The move comes as Russia advances a comprehensive legal framework for crypto markets, setting supervision by the central bank, eligibility thresholds and regulated participant categories. The EU and Britain have tightened sanctions, including on exchange HTX.