Kazakhstan government considers higher taxes for cryptocurrency miners.
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.Government officials in Kazakhstan are debating over new legislation for the cryptocurrency industry.
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 , 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 trying to deal with a growing power deficit since last year when the country welcomed mining companies moving out of China after Beijing launched a crackdown on bitcoin minting operations in May. The shortages were
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