PROBLEMS AND PROSPECTS OF STATE REGULATION OF CRYPTOMINING IN KAZAKHSTAN

KRIPTOVALIUTŲ GAVYBOS VALSTYBINIO REGULIAVIMO KAZACHSTANE PROBLEMOS IR PERSPEKTYVOS
Mussin B. Kosherbayeva A. Kuandykov N. Yegeubayeva S. Mussina Z.
2024 Mykolo Romerio Universitetas

Public Policy and Administration
2024 #23 Issue 1 63 - 73 pp.

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.

content analysis , cryptocurrency mining , energy security , information agenda , state regulation , taxation framework

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Academy of Public Administration, Republic of Kazakhstan, Abay Avenue, 33a, Astana, 010000, Kazakhstan
Department of Administration, State Revenue Committee, Ministry of Finance, Republic of Kazakhstan, Jenis avenue, 11, Astana, 010000, Kazakhstan
Almaty Technological University, Tole bi st., 100, Almaty, 050012, Kazakhstan

Academy of Public Administration
Department of Administration
Almaty Technological University

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