PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN
The cryptocurrency mining sector in Kazakhstan has witnessed remarkable expansion, attracting global miners due to favourable conditions. However, this growth has underscored the country’s energy scarcity, leading to the enforcement of stringent regulations by the government. This article seeks to...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Mykolas Romeris University
2024-03-01
|
| Series: | Public Policy and Administration |
| Subjects: | |
| Online Access: | https://ojs.mruni.eu/ojs/public-policy-and-administration/article/view/8017 |
| _version_ | 1797218411317559296 |
|---|---|
| author | Beimbet Mussin Aygul Kosherbayeva Nurzhan Kuandykov Salamat Yegeubayeva Zukhra Mussina |
| author_facet | Beimbet Mussin Aygul Kosherbayeva Nurzhan Kuandykov Salamat Yegeubayeva Zukhra Mussina |
| author_sort | Beimbet Mussin |
| collection | DOAJ |
| description | The cryptocurrency mining sector in Kazakhstan has witnessed remarkable expansion, attracting global miners due to favourable conditions. However, this growth has underscored the country’s energy scarcity, leading to the enforcement of stringent regulations by the government. This article seeks to offer a thorough comprehension of the regulatory framework governing cryptocurrency mining in Kazakhstan. Examining diverse aspects such as the legal status of mining, licensing structures, tax considerations, and the impact on energy infrastructure, the study utilizes international experiences and stimulus materials. Through the analysis of media representation and examination of primary trends, it is revealed that while the government has addressed legal gaps and instituted transparent tax procedures, taxing digital mining may discourage foreign investments, given the industry’s current fragility due to excessive regulations. The article provides insights into the regulatory landscape, emphasizing challenges and opportunities. |
| first_indexed | 2024-04-24T12:17:19Z |
| format | Article |
| id | doaj.art-ef9dafb6060349f2af8687e7e19bc09f |
| institution | Directory Open Access Journal |
| issn | 1648-2603 2029-2872 |
| language | English |
| last_indexed | 2024-04-24T12:17:19Z |
| publishDate | 2024-03-01 |
| publisher | Mykolas Romeris University |
| record_format | Article |
| series | Public Policy and Administration |
| spelling | doaj.art-ef9dafb6060349f2af8687e7e19bc09f2024-04-08T08:38:04ZengMykolas Romeris UniversityPublic Policy and Administration1648-26032029-28722024-03-012316373PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTANBeimbet Mussin0Aygul Kosherbayeva1Nurzhan Kuandykov2Salamat Yegeubayeva3Zukhra Mussina4Academy of Public Administration under the President of the Republic of KazakhstanAcademy of Public Administration under the President of the Republic of KazakhstanMinistry of Finance of the Republic of KazakhstanAlmaty Technological UniversityAlmaty Technological UniversityThe cryptocurrency mining sector in Kazakhstan has witnessed remarkable expansion, attracting global miners due to favourable conditions. However, this growth has underscored the country’s energy scarcity, leading to the enforcement of stringent regulations by the government. This article seeks to offer a thorough comprehension of the regulatory framework governing cryptocurrency mining in Kazakhstan. Examining diverse aspects such as the legal status of mining, licensing structures, tax considerations, and the impact on energy infrastructure, the study utilizes international experiences and stimulus materials. Through the analysis of media representation and examination of primary trends, it is revealed that while the government has addressed legal gaps and instituted transparent tax procedures, taxing digital mining may discourage foreign investments, given the industry’s current fragility due to excessive regulations. The article provides insights into the regulatory landscape, emphasizing challenges and opportunities.https://ojs.mruni.eu/ojs/public-policy-and-administration/article/view/8017state regulationcryptocurrency miningcontent analysisenergy securitytaxation frameworkinformation agenda; |
| spellingShingle | Beimbet Mussin Aygul Kosherbayeva Nurzhan Kuandykov Salamat Yegeubayeva Zukhra Mussina PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN Public Policy and Administration state regulation cryptocurrency mining content analysis energy security taxation framework information agenda; |
| title | PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN |
| title_full | PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN |
| title_fullStr | PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN |
| title_full_unstemmed | PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN |
| title_short | PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN |
| title_sort | problems and prospects of state regulation of cryptomining in kazakhstan |
| topic | state regulation cryptocurrency mining content analysis energy security taxation framework information agenda; |
| url | https://ojs.mruni.eu/ojs/public-policy-and-administration/article/view/8017 |
| work_keys_str_mv | AT beimbetmussin problemsandprospectsofstateregulationofcryptomininginkazakhstan AT aygulkosherbayeva problemsandprospectsofstateregulationofcryptomininginkazakhstan AT nurzhankuandykov problemsandprospectsofstateregulationofcryptomininginkazakhstan AT salamatyegeubayeva problemsandprospectsofstateregulationofcryptomininginkazakhstan AT zukhramussina problemsandprospectsofstateregulationofcryptomininginkazakhstan |