What Kazakhstan’s new tax regime means for the crypto mining industry

What Kazakhstan’s new tax regime means for the crypto mining industry

Https://cb.run/BSnP What Kazakhstan’s new tax regime means for the crypto mining industryOn July 11, the President of Kazakhstan, Kassym-Jomart Tokayev, signed new tax rates for crypto mining operators into law.

While these amendments reflect the country’s growing frustration with the undertaxed and non-transparent usage of the national power grid by both foreign investors and domestic perpetrators, the new taxes could hardly be called excluding.

Moreover, they could signal the further adoption and legalization of mining in energy-rich Kazakhstan, making the country and the region an even more attractive destination for miners amid tightening pressure in more established jurisdictions.

Reality check The two amendments will come into effect on Jan.

1, 2023,...