Kazakhstan to introduce new energy fees for crypto miners in 2022

[newshunter]

Kazakhstan to introduce new energy fees for crypto miners in 2022

The new law introduces an additional tax levy for energy used by crypto miners starting from January 2022.

Source: Kazakhstan to introduce new energy fees for crypto miners in 2022

Would appreciate your opinion about this

[TomPluz]

Well, this move can mean more revenues for the government in return for allowing the entrance of many Bitcoin miners into the country. I don't have figures but am sure there is that increasing need for electricity in Kazakhstan and the government is just doing business. The levy is not really that burdensome and miners will find it negligible. We should be thanking Kazakhstan for having an open mind on the mining business and for taking the opportunity away from China.

[Senin]

An additional tax on cryptocurrency mining in Kazakhstan will be 500 kilowatts per dollar. It's pretty good. However, given that this is an additional tax, I would like to see in the text the amount of the tax that existed before in order to determine its final amount. Given the past positive attitude of the Kazakh government towards cryptocurrency, I don't think this attitude has changed if the giants of Chinese cryptocurrency mining move there. It will be good for the cryptocurrency market if bitcoin miners are not concentrated mainly in one country, as was the case with China.