Kazakhstan Is Working On A New Crypto Tax

Kazakhstan is working on a new crypto tax. It seems that there will be an increase in the tax amount of organizations.

Kazakhstan is taking steps to increase the tax on cryptocurrency mining entities in the country. According to the statement made by the Minister of National Economy of Kazakhstan, Alibek Kuantyrov, he is considering calculating the tax to be collected from Bitcoin miners according to the market value of the issued cryptocurrency. Seen as an attractive country for Chinese Bitcoin miners, Kazakhstan often draws attention with the steps it takes in crypto mining. The Kazakhstan government is preparing to increase the tax burden for cryptocurrency miners. Kazakhstan's Minister of National Economy Alibek Kuantyrov said the following on the subject: "We are considering increasing the tax on miners. Currently, we are also considering tying the miners' tax rate to the value of the cryptocurrencies. If cryptocurrencies gain value, it will be good for the budget of our country." Moreover, some officials think that such an approach would have a positive impact on the state budget. It should also be noted that miners operating in Kazakhstan currently pay additional fees for the electricity consumed.