Bill Aims to Limit Crypto Mining in Kazakhstan Only to Registered Companies – Mining Bitcoin News

  • 📰 BTCTN
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Draft legislation designed to regulate crypto mining proposed in Kazakhstan.

The current procedure for notifying authorities of mining activities is voluntary, the crypto news outlet Forklog noted in a report on the legislative attempt. The process is regulated by an order issued by the minister of digital development. Only a third of all mining companies operating in Kazakhstan have registered, Member of Parliament Ekaterina Smyshlyaeva revealed.

“The uncontrolled use of electricity by ‘gray’ miners poses a threat to the energy security of Kazakhstan,” the lawmaker insisted. Smyshlyaeva added that the current legislation does not regulate the mechanism for the sale of the mined cryptocurrency or the role of local financial service providers and the circulation of digital assets. “The procedure for their production and the establishment of property rights to them are regulated only at sub-legislative level,” she explained.

According to Kazakhstan’s State Revenue Committee, the contributions of crypto mining entities to the state budget reached $1.5 million in the first quarter of 2022. In July, President Kassym-Jomart Tokayev into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levies now depend on the amount and average price of electricity consumed for the minting of bitcoin and other cryptocurrencies.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 531. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Still not mining Satoshi Core yet? START TODAY. Mining ends 12-12-2022 Mainnet launches soon 🔥 1⃣ click here: 2⃣ Register with your Email 3⃣ Create password 4⃣ Download the app (Android only) 5⃣ Do face verification KYC in 2mins 6⃣ Login and start mining

大量出下浮U,卡接全国送货上门:✈️:UU888866 🐧:2223286182 蝙🦇:33091427

Why is nooboody talking aboout this?

yea!

Lol, I only listen to ChiefraFba for signals and analysis

Canada Canada Latest News, Canada Canada Headlines