Kazakhstan President is troubled with the lack of mining tax income

by in Cryptocurrency News

Tokaev

President of Kazakhstan Kasym-Zhomar Tokayev met with business representatives. The head of the republic expressed dissatisfaction with the fact that miners do not pay taxes to the state budget.

He recalled that Kazakhstan ranks second after the United States in terms of the amount of generated bitcoin power. At the same time, the country receives practically nothing from the miners who operate its energy infrastructure. This issue must be resolved as soon as possible, the President emphasized and gave the relevant instructions to the government.

Note that Kazakhstan was on the list of countries where Chinese companies engaged in the extraction of cryptocurrency began to move en masse. They were ousted by the PRC authorities, motivating their decision by the need to reduce the load on the power system. In just a few months, the Central Asian republic has increased its computing power and has become one of the world's leading bitcoin miners.

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Tokayev also called on the Cabinet of Ministers and the National Bank to accelerate the development of digital tenge. According to the president, the token will become the core of the updated financial system of Kazakhstan.