Cryptomining Tax Recommendations Pass First Hearing

Kazakhstan leads the world in cryptocurrency mining. In May, the parliament adopted new amendments to the tax rules in the first hearing. They are aimed at regulating the load on the production of crypto assets. They involve new tax calculations taking into account the cost of electricity.

The changes cancel the increase in prices for tariffs. They should increase the demand for mining jobs using renewable electricity.

At the end of April, the Ministry of Development decided that mining companies should provide information on the amount of energy used to conduct a new connection a month before the activation of work. Prior to this, many illegal operations were closed after extensive inspections. More than 70,000 pieces of equipment were also confiscated.