{"id":280029,"date":"2022-12-07T18:24:43","date_gmt":"2022-12-07T18:24:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=280029"},"modified":"2022-12-07T18:24:43","modified_gmt":"2022-12-07T18:24:43","slug":"the-majilis-approve-new-crypto-regulation-bill-in-kazakhstan","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/the-majilis-approve-new-crypto-regulation-bill-in-kazakhstan\/","title":{"rendered":"The Majilis approve new crypto regulation bill in Kazakhstan"},"content":{"rendered":"<p>The Majilis have approved the new bill &#8220;On Digital Assets of the Republic of Kazakhstan&#8221; governing the regulation of crypto assets alongside four other crypto mining regulation bills in Kazakhstan.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/9<br \/>New crypto regulations in Kazakhstan. Again.<\/p>\n<p>The Majilis approved the bill &quot;On Digital Assets of the Republic of Kazakhstan&quot;, as well as four related bills on the regulation of digital mining in Kazakhstan<\/p>\n<p>Thread<\/p>\n<p>&mdash; Didar (@didar_bekbau) <a href=\"https:\/\/twitter.com\/didar_bekbau\/status\/1600442939959693313?ref_src=twsrc%5Etfw\">December 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The proposed regulations in Kazakhstan regarding digital mining and the use of cryptocurrencies appear to be aimed at providing a more structured and controlled framework for the mining, and use of cryptocurrencies within the country.<\/p>\n<p>The proposed measures include the introduction of licensing for digital miners, as well as new taxes on corporate income, and value-added tax for individuals conducting transactions with cryptocurrencies.<\/p>\n<p>Additionally, the circulation of cryptocurrencies and the activities of crypto exchanges will remain prohibited on the territory of Kazakhstan, with such operations allowed only under an experimental legal regime with a license from the Astana International Financial Centre (AIFC).<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">9\/9<\/p>\n<p>It is planned to introduce a ban on advertising of cryptocurrency transactions, and for secured assets a special procedure for its regulation has been introduced, by analogy with securities.<\/p>\n<p>&mdash; Didar (@didar_bekbau) <a href=\"https:\/\/twitter.com\/didar_bekbau\/status\/1600442967767932928?ref_src=twsrc%5Etfw\">December 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ekaterina Smyshlyaeva, Deputy of the Majilis Committee on Economic Reform and Regional Development said:<\/p>\n<blockquote><p>&#8220;The bill, in addition to mandatory accreditation, introduces separate requirements for mining pools in terms of the location of their server capacities in Kazakhstan and compliance with information security rules,&#8221;<\/p><\/blockquote>\n<p>Miners will now be able to purchase electricity from the common power grid only in circumstances where there is a surplus and solely through the KOREM exchange.<\/p>\n<p>In an auction for electricity where the highest bidder wins, only those most financially stable will ultimately gain access to the power grid's surplus of electricity.<\/p>\n<p>Furthermore, it is also proposed that a ban on advertising of cryptocurrency transactions be introduced.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Majilis have approved the new bill &#8220;On Digital Assets of the Republic of Kazakhstan&#8221; governing the regulation of crypto assets alongside four other crypto mining regulation bills in Kazakhstan. 1\/9New crypto regulations in Kazakhstan. Again. The Majilis approved the bill &quot;On Digital Assets of the Republic of Kazakhstan&quot;, as well as four related bills [&hellip;]<\/p>\n","protected":false},"author":1398,"featured_media":280155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60793,2376,11,5790],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Majilis approve new crypto regulation bill in Kazakhstan<\/title>\n<meta name=\"description\" content=\"The Majilis have approved the new bill governing the regulation of crypto assets alongside four other crypto mining regulation bills in Kazakhstan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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