Kazakhstan’s Senate approves mining-licensing bill

The upper house of Kazakhstan’s parliament approved amendments regulating mining that introduce licensing of the activity. Interfax reports.

Licensing is mandatory for both miners who own data centres and for owners of equipment and lessees of racks in data centres.

The amendments include measures to safeguard the national energy system from unregulated cryptocurrency mining, introduce mechanisms for administering a range of taxes, and regulate the circulation of secured digital assets.

In Kazakhstan, with the exception of the Astana International Financial Centre (AIFC), cryptocurrency exchanges are prohibited, and advertising of cryptocurrency operations is also prohibited.

The document has been sent to the president for signature.

Earlier on December 7, the lower house approved the bill ‘On Digital Assets’ and four accompanying regulatory acts on mining.

In January, Kazakhstan’s grid operator cut power to mining farms. Since then, the restriction has been extended several times.

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