Kazakh miners were required to sell up to 75% of the mined cryptocurrency to exchanges
Platforms must be registered in the special economic zone of Kazakhstan
13.02.2023 - 10:00
467
2 min
0
What’s new? The law on digital assets adopted by the Parliament and signed by the President of Kazakhstan contains a provision on mandatory sale by local miners of 50% to 75% of the mined cryptocurrency through licensed crypto exchanges. Thus, from January 1, 2024, miners will sell 50% of mined assets to exchanges, and in 2025 this figure will increase to 75%.
Text of the law on digital assets
Details about the law. The law “On Digital Assets in the Republic of Kazakhstan” was adopted by Parliament and came into force after being signed by President Kassym-Jomart Tokayev on February 6. The main purpose of the document is to create a regulatory framework for the issuance and turnover of digital assets, as well as mining in the country.
Cryptocurrency mining companies must obtain a license, provide income information and pay the appropriate taxes. All miners must work through accredited local pools, and the mined cryptocurrency must be sold to exchanges located in the special economic zone of Kazakhstan, the Astana International Financial Center.
Earlier, Kazakhstan completed testing of the digital tenge platform, and the Central Bank issued recommendations on the deployment of the asset for 2023-2025. Also, the Central Bank will integrate the digital tenge with the BNB Chain from the Binance crypto exchange.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$88 129
BTC
-1.67%
-
Ethereum
$3 066.73
ETH
-4.28%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.370517
DOGE
-5.91%
-
Ripple
$0.800979
XRP
+15.08%
-
Cardano
$0.600058
ADA
+3.47%
-
Bitcoin Cash
$420.13
BCH
-4.32%
-
Polkadot
$4.88
DOT
-4.77%
-
Litecoin
$81.98
LTC
-0.77%
-
Stellar XLM
$0.132819
XLM
+6.2%