Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates Suggest

[RSRS]

Crypto miners now bring more than $230 million into the economy of Kazakhstan each year and estimates show the figure could increase significantly in the future. The industry’s leading organization has projected that the government can collect more than $300 million in taxes over the next five years.

Kazakhstan Makes Millions From Cryptocurrency Miners
Kazakhstan’s growing coin minting industry has the potential to pour $1.5 billion into the nation’s economy in a five-year period, resulting in over $300 million in tax revenue, according to the National Association of Blockchain and Data Center Industry which unites major companies involved in cryptocurrency extraction that account for 70% of the mining sector. Budget revenues can reach $400 million with the opening of cryptocurrency exchanges, the organization added.

According to the association’s president, Alan Dordzhiev, even now legal participants in the mining market bring Kazakhstan 98 billion tenge (close to $230 million) annually. Quoted by the local business news portal Inbusiness.kz and the crypto news outlet Forklog, Dordzhiev also noted:

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[UNIVERSE]

Woe, this is good news.
In fact, behind the controversial activity of mibing, this really helos people to get better and more stable economic and financial. This may be dillema for government to ban because mining really helps their citizens.
But sometimes, ut is very bad because if irresponsible people who do illegal mining activities.

[Senin]

An easy way for the government of Kazakhstan to make money for the treasury by simply allowing citizens to mine cryptocurrency. When other states prohibit doing this, they see this as a benefit for everyone.
True, it may well be that Kazakhstan will soon be forced to ban mining of energy-consuming cryptocurrency, and above all with a proof-of-work algorithm in the fight against abrupt global climate change.