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Kazakhstan Plans to Impose a 15% Tax on Cryptocurrency Miners
Summary: Kazakhstan regulators are planning to impose a 15% flat-rate tax on cryptocurrency miners, aiming to regulate the growing industry, as reported by Forbes. At the same time, the tax policy can be seen to bolster reserves in the fight against COVID-19 pandemic. Forbes notes that tax revenues will be applied to rebuild infrastructures and recover ...
Kazakhstan regulators are planning to impose a 15% flat-rate tax on cryptocurrency miners, aiming to regulate the growing industry, as reported by Forbes.
At the same time, the tax policy can be seen to bolster reserves in the fight against COVID-19 pandemic. Forbes notes that tax revenues will be applied to rebuild infrastructures and recover from pandemic’s effects.
Kazakhstan’s crypto mining industry has made up about 6.17% of the average monthly Bitcoin hash rate in the second quarter of 2020, pushing toward the top-3 spot for global bitcoin mining.
By Lily Yang
Tags: COVID-19,Crypto Mining,Mining,Regulation
Link: Kazakhstan Plans to Impose a 15% Tax on Cryptocurrency Miners [Copy]
