Kazakhstan set new requirements for miners
Detailed data must be provided to the Ministry of Digital Development before cryptocurrency mining can begin
04.05.2022 - 11:40
410
1 min
0
.
What’s new? The Minister of Digital Development of Kazakhstan Bagdat Musin has amended the rules for informing about mining activities. Individuals who plan to mine cryptocurrencies now need to notify the ministry and provide it with details. 30 days before the start of mining, the following must be provided: the contact details of the miner (including bank details), the required capacity to connect the equipment, the details of the devices, the amount of the planned investments, the IP address, information about the place of work and the document confirming the ownership of the equipment.
What else do the amendments prescribe? Miners are required to provide this information quarterly. In case of the termination of activity, it is also necessary to notify the regulatory authority within 10 days.
What happened before? As part of an operation to crack down on illegal mining, Kazakh police closed 106 illegal cryptocurrency mining farms. Following the shutdown of illegal miners, the country’s daily electricity consumption dropped by 600 MWh.
The Minister of National Economy of Kazakhstan, Alibek Kuantyrov, believes that the tax on cryptocurrency mining should be tied to the value of digital assets. According to the politician, the initiative can have a positive impact on the country’s economy.
Useful material?
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024