Lawmakers in the country have passed the “On Digital Assets of the Republic of Kazakhstan” crypto assets bill and other laws that focus on crypto mining. The Mäjilis, or the lower hours of the Parliament of Kazakhstan, approved the four bills.
Following the Chinese miner exodus, Kazakhstan emerged as one of the preferred destinations due to cheap electricity. However, as crypto mining boomed, lawmakers have come up with hostile measures against the industry.
Stringent Rules
The details of the five bills that introduce a new scheme of electricity purchasing for mining equipment, as well as updated licensing and taxation schemes, were shared by Didar Bekbauov, co-founder of Xive, a crypto mining solutions platform.
Miners will now be required to purchase only surplus electricity from the public grid. Exclusive purchase of electricity through the Kazakhstan Electricity and Power Market Operator [KOREM] exchange can also be carried out by the miners. However, not everyone will be able
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