The cryptocurrency mining industry can be both a blessing and a curse as big players keep moving from one country to another, pushed around by the various limitations imposed by authorities.
According to the Cambridge Centre for Alternative Finance, quoted by Reuters, the 19 million-large Central Asian nation has moved all the way up and is now behind the United States as the world’s second-biggest mining location.
Some of the grey miners aim to go legal, but they have no idea about the taxes that they might be subjected to in the coming months.
While the above makes sense, Kazakhstan’s authorities have a tough task lying ahead because the state-regulated electricity prices cannot be raised overnight for everyone while keeping inflation in check.