Kazakhstan to Determine Position on Bitcoin in 2014
The authorities of the People’s Republic of China together with the EBA (European Banking Authority) were the first two bodies to declare their position on Bitcoin and other cryptographic currencies, what also has set the trend to populate warnings or praises on the virtual coins for other countries of financial institutions. It cannot be denied that most revelations carry negative concerns, but the regularity provides no shocks or drops of prices. First attacks have definitely tempered the Bitcoin. The 4th of February has also featured another statement, this time - from Kazakhstan. The....
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Kazakhstan's Central Bank Governor, Kairat Kelimbetov, has indicated in public comments that the National Bank of Kazakhstan could move to classify bitcoin as a ponzi scheme this year. The remarks were issued on 4th February at a press conference, according to Tengrinews.kz, an English-language news site based in Kazakhstan. There, Kelimbetov suggested that the Finance Ministry of Kazakhstan is studying bitcoin, but has yet to determine a formal stance on the virtual currency. "The issue is rather complicated. Some claim the currency is a good tool of money laundering and an absolute evil.....
Authorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences. 5 Mining Entities in Kazakhstan Get $18 Million in Tax Exemptions Auditors in Kazakhstan have identified crypto mining enterprises that were able to enjoy tax benefits normally offered to businesses engaged in innovations development. According to a representative of the country’s....
Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets.
Investors in Kazakhstan Can Buy up to $1,000 in Crypto a Month Without Declaring Income
Kazakhstan has adopted limits for crypto purchases made by retail investors on the exchanges registered at the Astana International Financial Centre (AIFC), the local business news portal Capital reported, quoting....
More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes After Crypto Miners Across Kazakhstan The rapid expansion of crypto mining in Kazakhstan, since last year’s crackdown on the industry in China, has been blamed for persisting problems with electricity shortages and blackouts. The government has gone so far as to claim that illegal players in the sector are....
The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues in Kazakhstan Kazakhstan has received 652 million tenge (almost $1.5 million) from the crypto mining industry in the first three months of the year, the government announced this week. The funds have been collected through a surcharge on the electricity used by mining farms operating legally in the....