The entrepreneur believes that after the entry into force of a package of laws that were recently approved by the Majilis of Kazakhstan, miners will be able to purchase only surplus electricity.
Xive co-founder and crypto investor Didar Bekbauov says that miners will be forced to buy electricity exclusively through KOREM (Kazakhstan Electricity and Capacity Market Operator), which acts as an exchange platform. Miners will have to pay for electricity through auctions, where only the participant with the highest bid can buy the required amount of energy.
In addition, two types of licenses will be introduced: for miners with their own equipment and for those who rent farms. In addition to mandatory registration, mining pool servers must be located on the territory of Kazakhstan to comply with information security rules, officials say.
The bill introduces a corporate income tax for miners, which is calculated taking into account the price of the cryptocurrency at the time of receipt as a block mining reward. Mining pools will be required to pay tax on the commission received for the provision of services.
In October, the lower house of the Parliament of Kazakhstan (Mazhilis) approved a package of laws on cryptocurrency mining. The purpose of the package of four documents is to create a legislative framework for the industry of mining and circulation of secured and unsecured cryptocurrencies.
Source: Bits
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