Almaty. September 2.
Information Center - Kazakhstan is in talks to attract investments worth 300
billion tenge (S$974.2 million) into the cryptocurrency sector, Digital
Development Minister Bagdat Mussin said on Wednesday, Reuters reports.
Kazakhstan claims to account for 6 per cent of global
The country passed legal amendments in June clarifying the
regulation and taxation of cryptocurrency mining that it hopes will boost its
oil-dominated economy, which can offer relatively cheap electric power for the
Thirteen "mining farms" are already operating in
the Central Asian nation and four are under construction, Mr Mussin told a
"More than 80 billion tenge has been invested in the
sector," he said.
"Today we have preliminary agreements on attracting
investments worth 300 billion tenge."
Kazakh laws allow the mining of asset-backed
cryptocurrencies and prohibit work with unsecured ones such as Bitcoin.