Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity.
Mining Companies in Kazakhstan Expected to Pay Much More to the State
Government officials in Kazakhstan are debating over new legislation for the cryptocurrency industry. The authors of a draft law “On Digital Assets in the Republic of Kazakhstan” have covered certain matters that concern the growing crypto mining sector, local media reported.
Quoted by Kazinform, First Deputy Minister of Finance Marat Sultangaziyev noted at a recent meeting of an interdepartmental commission that mining activities are now subject only to registration, but more rules are to come. He also emphasized that it’s very difficult to identify underground miners who consume a lot of electricity illegally.
Kazakhstan has been
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