A bill that would create new licensing and electricity purchase requirements has been sent on to a third vote.
Kazakhstan is moving forward with regulation that will further stifle its bitcoin mining industry.
The country’s federal parliamentary body has completed secondary approval of a bill „On Digital Assets in the Republic of Kazakhstan.” With a third approval, the legislation will introduce new licensing requirements for bitcoin miners based on their facility ownership and operational structure. It would also require that miners purchase their electricity from the energy provider Korem at market rates.
Previously, specific reporting and tax requirements were implemented, including registration of names, locations and quarterly reports to the government. These occurred as a result of the major influx of mining amidst energy shortages and protests, all while bitcoin miners fled China as a response to the government’s banning of bitcoin.
Kazakhstan’s close proximity to China a
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