For many, cryptocurrencies are a way to escape the centralized finance, meanwhile the governments are trying to tighten their grip on the digital assets to prevent it from becoming decentralized. Recently, Kazakhstan passed a bill for virtual currencies dubbed “On Digital Assets of the Republic of Kazakhstan”, centered around crypto mining activities.
Miners Need to Buy Surplus Energy via Public Grid
The bill will introduce new regulations for buying electricity used for digital assets mining and the associated tax schemes. Miners need to buy surplus power via the public grid. They can execute exclusive electricity purchases through Kazakhstan Electricity and Power Market Operator (KOREM).
According to the bill, the mining licensing procedure is divided into 2. One will focus on appropriate frameworks including location, security and location. The other will be centered around the miners, this involves the equipment owners renting cells in data centers and not claiming an energy qu
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