Law limiting crypto miners’ access to cheap electricity enters into force in Kazakhstan.
A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different categories of licenses that companies will have to renew periodically.“On Digital Assets in the Republic of Kazakhstan,” signed by President Kassym-Jomart Tokayev on Monday, has come into force.
Mining licenses will be issued for a period of three years to two groups of applicants. Entities that own mining infrastructure, such as data centers meeting certain standards in terms of equipment, location, and security, fall under the first category. The second is for those that own mining hardware but rent space in crypto farms and do not apply for an energy quota directly.
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