The government of Kazakhstan has revised the registration requirements for persons and companies involved in crypto mining. The updated regulations come amid an ongoing clampdown on the industry in the Central Asian nation, where the influx of miners has been blamed for persisting electricity shortages.
Crypto Miners to File Quarterly Reports With Kazakhstan Authorities
An order issued by Kazakhstan’s minister of digital development, Bagdat Musin, has expanded the registration and reporting requirements for those minting digital coins. The document obliges individual entrepreneurs and legal entities that intend to mine crypto to notify regulators at least 30 days before commencing activities. The same applies to firms and persons providing services to such enterprises.
Cryptocurrency miners are now asked to submit certain data including the name, registration number, and contact information of their companies, as well as their bank details and IP addresses. They will have to also spe
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