Warning: session_start(): open(/tmp/sess_829c3156cdaab522533e4f442d9f4352, O_RDWR) failed: Disk quota exceeded (122) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: session_start(): Failed to read session data: files (path: /tmp) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php on line 83

Warning: Cannot modify header information - headers already sent by (output started at /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-social-login/class.jnews-social-login.php:83) in /home/customer/www/thefuturecoin.com/public_html/wp-content/plugins/jnews-weather/class.jnews-weather.php on line 70
Kazakhstan eyes up the potential of its mining community – The Future Coin
The Future Coin

Bitcoin

$62,974.29

BTC -1.28%

Ethereum

$2,462.24

ETH 4.52%

XRP

$1.75

XRP 1.04%

Litecoin

$274.14

LTC 3.99%

EOS

$7.61

EOS 3.48%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Policy & Regulations

Kazakhstan eyes up the potential of its mining community

by The Future Coin
June 16, 2020
in Policy & Regulations
0
Kazakhstan eyes up the potential of its mining community
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

With an emerging crypto mining industry, the government considers making a pivot toward cryptocurrencies and other related technologies

Askar Zhumagaliyev, the Kazakh Minister of Digital Development, Innovation, and the Aerospace Industry, has revealed that the country is hoping to attract 300 billion KZT (around $738.4 million USD) in investments from cryptocurrency and digital mining firms in the next three years.

This was a part of Zhumagaliyev’s speech to the June 11 plenary session of the Senate — the upper house of Kazakh’s Parliament.

The deputies discussed a draft law for the regulation of digital technologies, which was forwarded to the parliament early this month. The draft law explicitly bans the issue and circulation of unsecured digital assets, with the key exception being “except as otherwise provided by law.”

In addition, the draft law does not ban digital mining since it does not consider it entrepreneurial activity.

Zhumagaliyev, addressing the deputies, explained that digital mining had become accessible to many crypto enthusiasts in Kazakhstan and noted the significant potential in the industry. Most crypto mining farms have been set up across the country: in the north, in the Pavlodar and East Kazakhstan regions, and in Uralsk.

“According to the report that we have prepared with international experts, we expect another 300 billion tenge (US$738.4 million) in the next three years as digital investments and in general, the further development of digital mining,” he said.

”I would like to note that there are 14 such digital farms in Kazakhstan and they are built near energy sources that can connect to them. They have already brought 82 billion tenges ($201.7 million USD) of investments in the country.” he explained further.

According to the Senate press service, the draft law is also intended to establish an authorised body to be in charge of personal data protection. This body’s main functions would involve the “regulation of public relations related to the use of digital technologies and the creation of conditions to implement projects in information and communication technologies, as well as establishing the legal basis for the creation and functioning of a national video monitoring system.”

However, this draft law stipulates that blockchain technologies will be taxed under existing laws and will not have new regulations drafted to accommodate them.

The Senate has adopted the document and it is now waiting for approval from the Kazakh President.

Source link

EDITOR’S CHOICE

Ethereum Could Reduce Fees With Batch Transactions

Ethereum Rival Polkadot Futures Suffer 99% Flash Crash—Forcing Binance To Enact Fresh Controls

Global Crypto Investment Fund FD7 Ventures to Sell $750M USD Worth of Bitcoin to Increase Cardano and Polkadot Holdings

Coinbase Files for Direct Public Listing With SEC – Cryptocurrency Regulation

Tanla to take Blockchain platform Trubloq abroad

From mail-in ballots to business as usual, Vermont municipalities prepare for Town Meeting

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 62,889.00
ethereum
Ethereum (ETH) $ 2,450.76
binance-coin
Binance Coin (BNB) $ 549.67
xrp
XRP (XRP) $ 1.74
cardano
Cardano (ADA) $ 1.48
tether
Tether (USDT) $ 1.00
polkadot
Polkadot (DOT) $ 42.17
uniswap
Uniswap (UNI) $ 38.09
litecoin
Litecoin (LTC) $ 272.84
chainlink
Chainlink (LINK) $ 42.03
dogecoin
Dogecoin (DOGE) $ 0.131589
bitcoin-cash
Bitcoin Cash (BCH) $ 820.12
stellar
Stellar (XLM) $ 0.628201
vechain
VeChain (VET) $ 0.187479
theta-token
Theta Network (THETA) $ 12.10
usd-coin
USD Coin (USDC) $ 1.00
filecoin
Filecoin (FIL) $ 169.68
tron
TRON (TRX) $ 0.152976
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 62,851.00
klay-token
Klaytn (KLAY) $ 3.04
solana
Solana (SOL) $ 27.23
eos
EOS (EOS) $ 7.60
cosmos
Cosmos (ATOM) $ 26.79
crypto-com-chain
Crypto.com Coin (CRO) $ 0.251085
bitcoin-sv
Bitcoin SV (BSV) $ 339.66
terra-luna
Terra (LUNA) $ 16.37
compound-ether
cETH (CETH) $ 49.07
monero
Monero (XMR) $ 329.72
iota
IOTA (MIOTA) $ 2.10
aave
Aave (AAVE) $ 472.62
bittorrent-2
BitTorrent (BTT) $ 0.008482
okb
OKB (OKB) $ 20.53
binance-usd
Binance USD (BUSD) $ 1.00
tezos
Tezos (XTZ) $ 6.80
ftx-token
FTX Token (FTT) $ 56.10
neo
NEO (NEO) $ 68.57
avalanche-2
Avalanche (AVAX) $ 37.16
kusama
Kusama (KSM) $ 470.29
algorand
Algorand (ALGO) $ 1.51
elrond-erd-2
Elrond (EGLD) $ 230.09
compound-usd-coin
cUSDC (CUSDC) $ 0.021893
nem
NEM (XEM) $ 0.440229
huobi-token
Huobi Token (HT) $ 20.76
pancakeswap-token
PancakeSwap (CAKE) $ 23.90
thorchain
THORChain (RUNE) $ 15.10
holotoken
Holo (HOT) $ 0.019880
cdai
cDAI (CDAI) $ 0.021362
havven
Synthetix Network Token (SNX) $ 21.20
dash
Dash (DASH) $ 317.68
dai
Dai (DAI) $ 1.00