Kazakhstan President Kasım Cömert Tokayev approved the bill proposing higher taxation based on the amount of electricity used and the average electricity price for Bitcoin (BTC) mining.
Bitcoin mining activities, which have increased recently in Kazakhstan, are forcing the government to take legal decisions on the issue. In the report published by the Kazakhstan government last May, many mining companies “ensuring the security of energy in the countryIt was reported that it was closed for the purpose of ”.
In the same report, mentioning that the expected fees from Bitcoin miners could not be met, the committee considered it as part of the new crypto bill. increase local fees for cryptocurrency mining underlined what he was thinking.
According to the news published on 11 July, the government approved a bill embodying this idea. According to the latest data from the Cambridge Bitcoin Electricity Consumption Index (CBECI) January 2022 as of its 13% hash rate by its share USA and Chineseafter third largest Bitcoin mining region in the world Kazakhstan will now apply higher tax rates to its miners.
President Tokayev made a statement at the beginning of 2022, although he is not against mining, miners’ licenses electricity bills payments on reasonable terms. and tax payments stated that they should.
Kazakhstan Data Center Industry and Blockchain Association, with a forecast made towards the end of 2021, is that crypto currency mining will be in the country. that it can generate $1.5 billion in revenue within five years had said.
State Revenue Committee of the Ministry of Finance of Kazakhstan, Monday, May 30 day Total energy fees paid by local crypto miners in the first quarter of 2022 He published a report on In the published report, the earnings from cryptocurrency mining is 1.5 million dollars was specified.
It is thought that Kazakhstan may have taken such a step as the 1.5 million dollar return was well below the expectations.