Kazakhstan’s parliament approves the bill on the legalization of cryptocurrencies in the first reading
According to the document, mining, the issuance, and circulation of digital assets, as well as the operation of crypto exchanges in the country fall under the regulation
12.10.2022 - 12:30
509
1 min
0
What’s new? Kazakhstan’s lower house of parliament has approved in the first reading the bill on the regulation of digital assets and mining. The document reflects the rules of the issuance and circulation of both backed and unbacked assets, TASS reports.
What is known about the bill? According to a member of the Committee on Economic Reform and Regional Development Ekaterina Smyshlyaeva, legal mechanisms for electricity consumption for the mining industry will be introduced. Appropriate quotas will be introduced depending on the balance of the system. This will open up additional opportunities for attracting financing for the construction of new generations on fields and renewable energy sources.
Mandatory registration, licensing, and taxation will be introduced for miners. In addition, participants of cryptocurrency mining will be obliged to exchange up to 75% of their capital on local crypto exchanges. Miners’ remuneration will be subject to corporate income tax, tax on income of the mining pool, and fees on transactions on exchanges. The Ministry of Digital Development, Innovation and Aerospace Industry will regulate the activities of miners.
In September, the Eurasian Bank conducted the first transaction to buy bitcoin for fiat money. The second party to the transaction was Intebix (Biteeu Eurasia), a Kazakh cryptocurrency exchange. The bank’s upcoming plans also include the issuance of a cryptocurrency payment card for residents of Kazakhstan.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
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
Cryptocurrency rates
-
Bitcoin
$97 770
BTC
-1.15%
-
Ethereum
$3 398.52
ETH
+2.15%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.47
XRP
-0.38%
-
Dogecoin
$0.430228
DOGE
+4.2%
-
Cardano
$1.07
ADA
+4.28%
-
Stellar XLM
$0.516868
XLM
+50.73%
-
Polkadot
$8.53
DOT
+28.4%
-
Bitcoin Cash
$509.85
BCH
+4.01%
-
Litecoin
$99.44
LTC
+7.85%