surcharge

Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

July 13, 2022 Bitcoin.com

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President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Uzbekistan Presents Registration Requirements for Cryptocurrency Miners

June 29, 2022 Bitcoin.com

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Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in cryptocurrency mining will need […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Kazakhstan Makes $1.5 Million From Crypto Mining Sector in Q1

June 1, 2022 Bitcoin.com

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The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues in Kazakhstan Kazakhstan has received 652 million tenge (almost […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Proposed Crypto Mining Ban in Norway Fails to Gain Support in Parliament

May 13, 2022 Bitcoin.com

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A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners. Norway Will Not Ban Bitcoin Mining The parliament of Norway has considered […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims

February 24, 2022 Bitcoin.com

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Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Kazakhstan President Orders Government to Find All Miners and Raise Tax by April

February 10, 2022 Bitcoin.com

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President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted. Miners in Kazakhstan to Pay Higher Electricity Tariffs On top of electricity shortages […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining

February 9, 2022 Bitcoin.com

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Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining Companies in Kazakhstan Expected to Pay Much More […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets

Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners

July 1, 2021 Bitcoin.com

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Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry. Coin Miners in Kazakhstan to Pay Extra Fee per Kilowatt-hour of Electricity Crypto mining entities […]

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Sui Foundation Enters Into Strategic Partnership With Franklin Templeton Digital Assets