Kazakhstan Introduces a Bill to Regulate Cryptocurrency Mining

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Deputies of the Mazhilis of Kazakhstan have recently developed a bill regulating crypto mining in the country.

The document allows mining only for participants of the Astana International Financial Center (AIFC), as well as for non-resident legal entities if they have an agreement with licensed data centers.

Now the notification procedure for the start of activities in the field of cryptocurrency mining is voluntary and is regulated by an order of the Minister of Digital Development.

At the moment only a third of the mining companies represented in the country have registered in the registry.

According to a country’s deputy:

“The uncontrolled use of electricity by ‘gray’ miners poses a threat to the energy security of Kazakhstan.”