Kazakhstan reduced tax rates for mining based on renewable sources and vice versa
The President of Kazakhstan signed a bill to introduce higher tax rates for crypto-miners. Their amount will depend on the amount of electricity used for installations and the average price of electricity.
The rates range from 1-10 Kazakh tenge (about 0.07-0.7 UAH) for each kilowatt. If the rate rises to 5-10 KZT, miners would have to pay 10 KZT per kW of electricity.
The most economical will be mining based on renewable energy sources. In this case, companies will pay only 1 tenge per kWh.
Kazakhstan’s energy problems
Kazakhstan faced an energy shortage last winter. Authorities blamed it on a massive influx of miners, who migrated after China’s ban.
However, Tokayev’s government is far from hindering the growth of the industry. A month ago, the government launched a pilot project for cooperation between crypto exchanges and local banks. And by the end of the year, the local regulator will issue licenses to blockchain companies. In addition, Kazakhstan has plans to become a regional cryptocurrency center.
Programmer. Recently, the main activity is programming smart contracts on Solidity in the Ethereum blockchain. Development of websites using smart contracts as part of their functionality.
Has experience in developing services using Lightning Network technology.
Actively interested in everything related to blockchains and cryptocurrencies.
