Kazakhstan becomes the main center of attraction for investors

Date: 28.05.2021

In light of the latest harsh statements from the PRC authorities regarding the regulation of the crypto industry in the country, Chinese manufacturers of equipment for mining cryptocurrency, including the company from Hangzhou "Ebang International", do not exclude the high probability of Chinese mining companies moving to more favorable conditions, such as the Republic of Kazakhstan and Canada.

A similar position was expressed by the senior vice president of "Canaan Inc" Edward Lu, who assesses the development strategies of Kazakhstan, Canada and Northern Europe as aimed at intensive development of the crypto industry market. He also noticed that in these countries there are sufficient volumes and cheap energy resources, and the rule of doing business in the crypto industry is clear and predictable.

As you know, last month, the Beijing Municipal Bureau of Economics and Information Technology demanded information on mining operations from the operators of mining farms. Subsequently, it became known that strict supervision over the mining of cryptocurrencies would be established in China.

In Kazakhstan, digital mining activities are legal. Today, the Government is working on the development of cryptocurrency exchanges in Kazakhstan, which will provide transparent and at the same time secure conditions for the transactions of cryptocurrencies in the country.

We remember that recently the Mazhilis of the Parliament approved a package of amendments providing for a payment of 1tg. ($ 0.002) per 1 kW / h of electricity consumed by miners. The norms should first of all contribute to the legalization of this industry by bringing miners into the legal field. The payment amount is insignificant, and the payment procedure is quite simple and clear. Experts estimate that 4.4 billion tenge will be accumulated each year, which will make it possible for instance to build school or hospital.