Kazakhstan to Increase Cryptocurrency Mining Tax Tenfold

The authorities of Kazakhstan plan to increase the tax on cryptocurrency mining tenfold. This information was reported by newtimes.kz.

Minister of National Economy Alibek Kuantyrov stated that officially registered mining companies in the country consume approximately 640 MW of electricity.

The ministry has proposed to distinguish a separate group of consumers from energy-producing organizations and raise the tax rate for them from 1 to 10 tenge.