Kazakhstan’s Majilis (the lower house of the country’s legislature) has announced five new ones, Russian news agency TASS reported. cryptocurrency approved the bill.
Cryptocurrency Bill In Kazakhstan Is Moving Fast On The Way To Be Enacted
The fact that at least some of this legislation was drafted only in late September shows how quickly the new rules are moving, according to local news.
According to Ekaterina Smyshlyaeva, member of the lower house’s Committee on Economic Reform and Regional Development, the bills address the issuance and circulation of “collateralized and unsecured digital assets.”
Smyshlyaeva also said that the bills were developed “in line” with President Kassym-Jomart Tokayev’s instructions to curb problems with crypto mining.
China’s energy consumption in the country is intense bitcoin After it banned mining, miners fled to other regions with cheap electricity, and energy-rich Kazakhstan became the main choice in this regard.
The country soon began to struggle with energy shortages and authorities turned to suppress the mining industry. Since May, the government has mandated crypto miners to register their activities with local authorities. In July, Tokayev signed into law the law increasing taxes on crypto miners.
Although the bills are still in the early stages of the legislative process, sources familiar with the process said the legislation will most likely become law.
Binance, the world’s largest cryptocurrency exchange, recently managed to obtain permission to operate as an exchange in the country. The exchange had previously received a pre-approval to operate in the country.
*Not investment advice.
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