Kazakhstan's parliament approved new rules for cryptocurrency mining

  • Ultramining.com
  • 22:41 Dec 07, 2022
Kazakhstan's parliament approved new rules for cryptocurrency mining

Deputies of the lower chamber of Kazakhstan's parliament approved several rules, which provide new taxes, as well as allows the purchase of electricity in the case of excess. The draft amendments have been sent to the Senate. Deputy Ekaterina Smyshlyaeva believes that with the help of new rules it is possible to eliminate gaps in the regulation of cryptocurrency mining, which exist at the moment. 

Now the legislative acts take into account all the trends and challenges. The recognition of digital assets as a means of payment will help to preserve the country's financial system. 

The deputy also voiced that the mechanisms for paying the following taxes have already been formed:

  • corporate income tax for the miner;
  • corporate income tax for the pool;
  • a tax that takes into account the increase in profits of individuals from transactions with digital currencies;
  • corporate income tax on cryptocurrency exchanges.

As for the purchase of electricity by miners from the country's energy system, this becomes possible only in the case of a surplus. All transactions with energy resources will be carried out on a specialized exchange on market conditions.


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