The ministry stated that exchanges that will be eligible to join the pilot project are those registered in the country's special economic zone—the Astana International Financial Center.
Galymzhan Pirmatov notes that the institution is carefully studying the digital currency market and is set to unveil some of its plans before 2022 ends.
According to a recently published ministerial order, all miners will have to submit their business registration data, along with information about all their employees who must be legal residents of Kazakhstan.
Kazakh authorities announced that about half the illicit miners voluntarily chose to shut down in adherence to government directives, with the other half being forced to halt operations.
The Ministry of Energy cracked down on the 13 illegal mining farms, which it claimed had been using a lot of energy and vowed to continue to clamp down on other illicit miners.
The proposal by the Minister of Finance will also see miners pay a monthly tax on their mining rigs, whether they use them to mine or even if they’re not in operation.
As China leads a number of countries in legal measures against block reward mining, Georgia is turning to a different solution—a holy oath against mining.
Kazakhstan has been experiencing its deadliest protests ever with over 160 dead, and BTC hash rate took a nosedive after a five-day Internet outage.
The National Bank of Kazakhstan plans to set up a retail digital currency on a distributed ledger technology, and is mulling the possibility of using the digital tenge for payment.
The Kazakh central bank worked with local banks and international partners on the prototype, but it will decide on the need for digital tenge by December 2022.
Kazakhstan has been struggling with electricity shortage following the influx of block reward miners from China, forcing some miners to move again because of the new energy crisis.