President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted. Miners in Kazakhstan to Pay Higher Electricity Tariffs On top of electricity shortages…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________… Read More: EOS Foundation vs. Block.one, Crypto M&A Value Up 4,846%, Sport Deals With Tezos and Terra + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
The Russian government appears to be preparing the ground for the legalization and regulation of the Bitcoin (BTC) and crypto mining sector – and is already planning what looks like a way for miners to sell their tokens to overseas buyers even after the nation begins policing crypto transactions…. Read More: Russia Plans to…
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The US Mayor who became known in the Cryptoverse as a Bitcoin (BTC) supporter and industry ally is now opposing crypto mining, citing high energy consumption. Meanwhile, a billionaire urges the state to get rid of BitLicense “right away.”… Read More: NYC Mayor Supports ‘Crypto But Not Crypto Mining,’ While Billionaire Bashes BitLicense Read…
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The environmental impact of Bitcoin (BTC) and crypto mining took center stage during a hearing on digital assets in the US Senate’s Committee on Agriculture on Thursday, as some senators voiced concerns over the “astonishing” energy usage associated with mining. As reported, the Bitcoin mining network is estimated to contribute less than 0.08% to…
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Determined to reduce the carbon footprint of his Bitcoin (BTC) mining operations and cut his electricity bill, Polish miner Paweł Wojciechowski started using photovoltaic (PV) modules to mine the crypto, allocating the excess heat to warm the water in his household. Amid surging demand for his know-how, Wojciechowski has decided to commercialize the technology….…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________… Read More: Apple Taps to Pay, IMF on CBDCs, Political Coinbase, Compute North Raises USD 385M + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining Companies in Kazakhstan Expected to Pay Much More…
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The government of Kazakhstan has unveiled a package of measures aimed at further taxing the nation’s Bitcoin (BTC) and crypto mining sector. The measures will involve tax hikes on electricity, a crackdown on unregistered miners, a tax on mining hardware, and the introduction of VAT charges on mining-related equipment sales…. Read More: New Taxes…
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There is yet to be a conclusive court ruling regarding the taxation of staked crypto rewards; however, a recent case demonstrates industry progression. In May 2021, a Nashville couple known as the Jarretts filed a lawsuit against the United States Internal Revenue Service (IRS) over taxes they had paid on unclaimed and unsold Tezos (XTZ)…
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