Kazakh miners are required to obtain a license for mining cryptocurrencies

Kazakh President Kassym-Jomart Tokayev signed a law on digital assets, which obliges miners to obtain a special license for mining cryptocurrencies. Writes about it RIA News with reference to the press service of the head of state.

The law was approved by Parliament on 26 January. Earlier, the Finance and Budget Committee of the Upper House stated that the document was developed in order to create a legal framework for the development of activities for the issuance and circulation of digital assets and digital mining.

According to Senator Bekbolat Orynbekov, who led in January, Sputnik Kazakhstan, the law also regulates the activities of digital asset exchanges and mining pools, obliges pools and single miners to provide income information for tax purposes, and regulates the circulation of these assets in the country.

The relevant committee of the Senate noted that the law will allow the formation of a legal market for digital assets in Kazakhstan, as well as attract foreign investment. It is expected that this will contribute to the development of the country’s economy as a whole and increase budget revenues.