Kazakhstan crypto mining sector to be regulated with a new bill
Join Our Telegram channel to stay up to date on breaking news coverage According to recent reports, the lower house of Kazakhstan’s parliament recently gave the green light to new bills that will bring additional regulations to the local crypto industry. The new bill is meant to introduce crypto mining rules, requiring miners to create authorized entities and register with the regulators. Of course, they will also be required to pay appropriate taxes. The government’s decision to tackle mining comes from the fact that Kazakhstan has grown into one of the world’s largest crypto-mining hubs after the miners were forced to leave China. However, the country has since seen a lot of so-called “gray mining,” where miners conduct mining operations without having the necessary license or registering with the government. To combat the issue, the lower house of parliament approved five new bills that will focus on the mining sector and mining pools. According...