The document includes a number of important requirements for cryptocurrency exchanges and miners

​Laos has introduced new rules for regulating the digital asset market

18.11.2021 - 07:15

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1 min

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What’s new? According to local media reports, the Laotian government has drafted and published new rules for individuals and businesses to operate in the cryptocurrency market.

News source on the Laotian Times website

How will Laos regulate the industry? According to the document, only Laotian residents will be allowed to register cryptocurrency companies with an appropriate security deposit of $5 million. A minimum power consumption threshold of 10 MW will be set for miners. At the same time, a single tariff with preferential conditions for the rainy season will be formed for the efficient mining of cryptocurrencies.

As for the operation of exchanges and platforms in Laos, their operators will have to pay $1 million for a license. Thereafter, the tax will be 15% and will be levied on the amount of commissions received.

Author:

Michael Golikov Michael Golikov

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