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Kazakhstan to Increase Tax for Miners, Considers Tying Levy to Crypto Prices

The government of Kazakhstan is preparing to increase the tax burden for cryptocurrency miners and intends to tie the new rate to the value of the minted cryptocurrency. The authorities in Nur-Sultan believe that such an approach would have a positive effect on the state budget.
Miners in Kazakhstan to Pay Tax on the Value of Extracted Crypto
Kazakhstan is taking steps to raise the tax for entities mining cryptocurrency in the country. According to a statement by Minister of National Economy Alibek Kuantyrov, the plan is to calculate the tax based on the market value of the mined cryptocurrency.
The government official noted that the implementation of such a scheme would increase budget receipts, Tengrinews.kz reported. Miners operating in Kazakhstan are currently paying a surcharge on the consumed electricity.
Mining enterprises were obliged to pay more than other consumers last summer. Tariffs were increased with a fee of 1 Kazakhstani tenge (approx. $0.0022) per kilowatt-hour of ele

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