Majilis of the Parliament of the Republic of Kazakhstan in the first reading approved the bills on mining

It has become known that the lower house of parliament of this Central Asian country has considered several legal documents (five pieces) aimed at regulating the production and sale of virtual coins. The information is provided with reference to TAAS.

This is a very important step in the context of the development of mining and crypto, not only in Kazakhstan, but in Central Asia as a whole. The desire of national governments to go for legal regulation of virtual coin mining is a very important global trend. As the experience of European countries shows, the states that take this path provide themselves with economic growth.

What is the essence of the document

On October 12, an industry bill was considered, which affected digital assets (in particular – virtual coins) operating in the territory of the Republic of Kazakhstan. Four additional regulations were also given attention.

All this is done to avoid risks to the national financial system. It is planned that all transactions related to virtual coins will be conducted through «Astana» – the International Financial Center.

About the meeting

The event, where the discussion of the bill took place, could be watched online on the official website of the Parliament of the Republic of Kazakhstan.

According to Ekaterina Smyshlyaeva, a member of the Mazhilis Committee on Economic Reform and Regional Development, parliamentarians from the Mazhilis considered the documents that would be able to regulate the mining of virtual coins. The most important goal of the bill is to prepare a legal framework that would simplify and improve the mining and sale of crypto.