Further regulations for optimization Mining Sector in Kazakhstan-Mining Bitcoin messages
Further regulations for optimization Mining Sector in Kazakhstan-Mining Bitcoin messages
The authorities have to expand the regulatory framework for cryptocurrency miners, a parliamentary member proposed in Kazakhstan. The additional rules are intended to rationalize their activities and help to correctly correct the public opinion that they are responsible for the country's electricity deficit.
crypto mining in Kazakhstan is needed additional regulations, says the legislator
New regulatory requirements and criteria for the crypto mining industry have to be adopted to rationalize your company and at the same time develop a comprehensive ecosystem for digital assets. This emerges from a current explanation by Dyusenbay Turganov, member of the Mazilis, the lower house of the Kazakh Parliament.
The MP, who was cited by the local economic news portal in Business.kz, found that the mining has been a legal industrial activity since the adoption of changes in the law in 2020 was a new type of VAT to the budget.
"Nevertheless, against the background of the shortage of brow energy, society has a false, irregular opinion about digital mining as the culprit of the energy crisis and it seems that government agencies do not tackle this problem to the extent necessary," continued Turganov. He also commented that "effective measures and their results are not visible, there is no adequate coordination of government agencies in this important process".
"gray miner" held responsible for lack of electricity, various solutions were considered
Kazakhstan recorded a growing electricity deficit of over 7 %in the first nine months of the year, which largely accuses to the increasing consumption in its growing mining sector. In November, many consumers experienced, including households, power outages and in the south of the country, restrictions were imposed. In order to cope with the scarcity, Kazakhstan electricity a higher tariff.
However,dyusenbay Turganov insists that the uncontrolled power consumption by illegal mining farms is the main reason for the current situation. In order to solve the problem, the government must reinforce its efforts to identify so -called "gray miners" and suppress their illegal activities, he added. This would enable the authorities to limit their electricity consumption, which is urgently needed by legitimate consumers, emphasized the legislature. Turganow was cited in the following words:
It is necessary to the necessary requirements and criteria for the rationalization of the activities of the miners and the development of an integrated ecosystem for the circulation of digital assets based on the aifc Reduce shadow economy.
The MP suggests that Miner is involved in the expansion of renewable energy sources in Kazakhstan and help to eliminate imbalances in the national power supply system. The authorities should also take steps to expand the country's production capacities, he demanded.
Turganov's suggestions come after a group of his colleagues in the Mazhilis proposed , in early October, the establishment of a state register for cryptocurrency farms active in the country. The legislature also wants to request a higher price for the electricity for the electricity to shape digital coins.
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