Kazakhstan, one of the world’s leading crypto currency mining countries, has made progress by taking another important step in the draft law that will bring strict regulations to Bitcoin (BTC) mining.
The Kazakhstan Parliament has taken another important step towards regulating cryptocurrency mining. The lower house of the Kazakhstan Parliament approved the bill that imposes harsh conditions on cryptocurrency mining. Before the bill is voted now going to the third reading.
This new legislation, which is still in the draft stage and awaiting final approval, is for crypto miners. whether they operate their own facilities or whether they rent mining equipment from other suppliers Depending 2 different new licensing applications will bring. Miners also get their electricity from the energy provider. my korea (Kazakhstan Electricity and Energy Market Operator).
However, for a large amount of electrical energy, cryptocurrency miners will have to participate in auctions and just the highest bidder will win.
Last year of china There was a massive migration of miners to Kazakhstan after it banned cryptocurrency mining. This situation pushed Kazakhstan to take quick and clear decisions about mining. The state, which deals with important problems especially in electricity consumption and taxation, plans to approve the draft law as soon as possible.