Kazakhstan, which has been working on crypto frequently this year, is preparing to take a new step in crypto mining.
In mid-2022, the Kazakhstan regulator gave the green light for banks to offer services such as bank accounts to licensed crypto exchanges. Then he introduced new tax rules on crypto mining, where he took an important position. New regulations are being introduced in Kazakhstan, which has recently come to the fore with the legalization of cryptocurrencies.
Kazakhstan Takes New Steps for Crypto Mining
A significant part of China’s dominant power in crypto mining fell into the hands of Kazakhstan after the bans. The country, which ranks first in Bitcoin mining, will only allow mining activities of registered companies.
According to the new bill on crypto mining submitted by the members of Mazhilis, the lower house of the Kazakhstan parliament; Only companies registered with the Astana International Financial Center (AIFC) or non-resident organizations that have agreements with licensed data centers will be allowed to mine crypto.
The bill aims to comprehensively regulate the industry and reduce what its sponsors describe as uncontrolled electricity consumption in the industry.
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