Kazakhstan blocks 980 crypto exchanges for non-compliance
In a significant regulatory move, Kazakhstan’s Financial Monitoring Agency (AFM) has blocked nearly a thousand cryptocurrency exchanges operating without proper registration. This action underscores the country’s commitment to regulating the digital currency market. Government crackdown on unregistered exchanges The AFM’s recent measures, detailed in a December 7 press release, highlight its stringent approach to cryptocurrency […]
Crypto mining operators in Kazakhstan urge the president for tax reforms
In a significant development in the cryptocurrency mining industry, eight leading mining operators in Kazakhstan have penned an open letter to President Kassym-Jomart Tokayev, expressing their deep concerns regarding the soaring energy costs crippling their operations. This move comes as Kazakhstan grapples with its status as the world’s third-largest Bitcoin mining hash rate market. The […]
Binance launches new crypto exchange in Kazakhstan amid regulation trouble
The largest cryptocurrency exchange Binance is expanding its presence in Kazakhstan with the launch of a local exchange amid ongoing regulatory concerns in the United States. The move follows Binance obtaining a license from the AIFC Financial Services Authority (AFSA) in October 2022, allowing the company to manage a digital asset platform and provide custodial […]
Bybit pre-approved as crypto custody provider in Kazakhstan
In a significant step towards global expansion, Bybit, a leading player in the cryptocurrency exchange arena, has recently announced that it has secured preliminary approval to operate as a digital asset trading facility and provide custody services in Kazakhstan. This preliminary, or “in-principle,” approval from the Astana Financial Services Authority (AFSA) paves the way for […]
Kazakhstan president signs law to cap power consumption of crypto-mining
Kazakhstan president Kassym-Jomart Tokayev announced that he had signed legislation to reduce energy consumption by domestic crypto miners. This announcement was published on his website. As cryptocurrency miners, both legal and illegal, have recently flocked to Central Asian territories in their thousands, the local infrastructure is under increasing pressure. As a result of this unsustainable […]
Kazakhstan central bank suggests a two years stepwise CBDC launch
The National Bank of Kazakhstan, which serves as Kazakhstan’s central bank, has suggested that the in-house CBDC be made accessible as early as 2023, with a progressive development of functionality and introduction into commercial operation not occurring until the end of 2025. Taking into account the need for technological improvements, infrastructure preparation, development of an […]
China’s crackdown on Bitcoin miners, a grave mistake – Michael Saylor
TL;DR Breakdown Michael Saylor lashes out at China’s crackdown on Bitcoin miners. Market prices continue to fluctuate. The move by China opens opportunities for other countries. Michael Saylor argued that China had made a grave mistake by cracking down on BTC miners and ousting them out of its borders. Dwindling prices and market instability – […]
Bitcoin mining recovers as Kazakhstan is back online, but at what cost?
TL;DR Breakdown Major Bitcion mining pools have recovered almost 9% as internet is restored in Kazakhstan. There are growing allegations of human rights violation and social media outrage against the government. Crypto miners are looking beyond Kazakhstan for a more sustainable solution to mining. The ongoing Kazakhstan protest has been hurting the Bitcoin mining industry […]
Kazakhstan protest leads to internet shutdown: 15% of global Bitcoin miners go offline
TL;DR Breakdown Protests in Kazakhstan led to a nationwide internet shutdown. Almost 15% of global Bitcoin miners were offline. All major BTC mining pools experienced a significant reduction in their hashrate. The entire nation of Kazakhstan was offline for almost 24 hours, a country that’s the second biggest hub of Bitcoin mining in the world. […]
Kazakhstan’s president approves crypto mining
TL;DR Breakdown • Kazakhstan could extract over $1.5 million with crypto-mining.• Kazakhstan ranks second as the country that has extracted the most Bitcoin from mining. Kazakhstan, a country in Central Asia, shows its participation in the crypto market by announcing that it will accept Bitcoin mining. The country’s president reportedly created a reform to accept […]
Crypto Miners in Kazakhstan to commence tax payments in 2022
TL;DR Breakdown Kazakhstan signs crypto mining taxation into law; to commence in 2022. The crypto mining market becomes the next prey for government regulations. Taxation rules could become the death of Kazakhstan’s crypto mining space. Tax rules for crypto miners in Kazakhstan – A business perspective The government of Kazakhstan has put forward a new […]
