As part of its fight against illegal operations in the country, the Kazakhstan government has terminated 106 more cryptocurrency miners.
According to the official statement, illegal cryptocurrency miners were identified as a result of the joint work of the country’s financial markets regulator and other government institutions.
55 out of 106 cryptocurrency miners started their activities after being detected by the authorities. voluntarily while the remaining 51 miners were sanctioned to stop working. The government suspects these 51 miners are tax evasion.
The government, as a result of its investigations on cryptocurrency miners, determined that some of the leading names in the country are also involved in the mining industry.
Among them, Bolat Nazarbayev, brother of Kazakhstan’s founding president Nursultan Nazarbayev, of Central Asian Electric Power Corp. Alexander Klebanov, chairman of the board of directors, and Kairat Itegmenov, one of the richest names in Kazakhstan.
So far, 25 lawsuits have been filed against miners working without permission in Kazakhstan without obtaining the necessary licenses. As a result of these investigations, the authorized institution seized approximately 67 thousand equipments with a total value of 193 million dollars.