The President of Kazakhstan, Kassym-Jomart Tokayev, signed a law providing for the introduction of additional mining fees. Earlier it was adopted by the Senate of the Parliament.
The National Association of Blockchain and Data Center Industry of Kazakhstan said that this decision “will have a very negative impact on the investment attractiveness of the industry.”
According to the president of the association, Alan Dordzhiev, miners from China, who view Kazakhstan as a possible jurisdiction for migration, are also “embarrassed by this initiative.”
MP Albert Rau said the authorities did not see any “critical consequences” from the adoption of the law. The media call Rau the initiator of the bill, but he himself said that this is “a government version of the amendments.”
The law provides for the introduction of an additional fee of 1 tenge per 1 kWh of electricity consumed during mining. The new rules should come into force on January 1, 2022.
The authorities said that the introduction of additional electricity charges for the extraction of cryptocurrencies would “bring out of the shadow those miners who are in the gray zone.”
The National Association of Blockchain and Data Center Industry of Kazakhstan has already warned about the negative consequences of the adoption of the law.
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