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Kazakhstan has adopted new tax regulations regarding cryptocurrency mining –

Kazakhstan has adopted new tax regulations for the cryptocurrency mining market. We can already hear the first voices of opposition from entrepreneurs. What is it actually about?

Kazakhstan and new regulations https:///iran-kryptowaluty-3podatkowe

The government of Kazakhstan has imposed a new law that taxes the mining of cryptocurrencies. The government has already published official notificationthat the head of state signed the new levy law. The law will enter into force on January 1, 2022 and is expected to generate billions of tenge for the budget.

Earlier, such an operation was performed by Iran. However, local media reported that companies oppose the new tax rules, with many saying it could spell the end of this type of market in the country.

In turn, China began to ban BTC mining altogether. Ban was introduced in several regions of the superpower.

It is also worth recalling that electricity in Kazakhstan is relatively cheap, which attracts miners to this country. The events in China have forced the latter to consider moving to other regions of the world. Kazakhstan has become an attractive option, but this state is subject to change as a result of the new law.

Cryptocurrency mining is another goal of regulators?

Authorities around the world are now turning their full attention to regulating the cryptocurrency market. The last six months have focused heavily on the presence of crypto on exchanges. South Korea has put forward a comprehensive set of rules for such companies. These must also obtain the appropriate license in the country to continue their activities.

Canada, meanwhile, sent notices to several exchanges for non-compliance. Poloniex and KuCoin are among those under investigation.

It is possible that after the stock market is regulated, mines will be the next target for officials. China is already making changes with strict orders to stop mining. The country has also ordered banks to stop facilitating cryptocurrency transactions.

A year ago, Alik Shpekbayev, chairman of the Anti-Corruption Agency of the Republic of Kazakhstan, said national digital currencies, such as the Chinese digital yuan, should contribute to a more transparent financial system.

As soon as digital tenge is successfully implemented, we will be able to forget about transaction fees – pointed out Shpekbayev.

We wrote about it here.

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