The Kazakhstan government is stepping up regulatory measures in the cryptocurrency industry in response to the country’s electricity concerns. According to the Ministry of Energy, an inspection team shut down 13 mining sites with a total power usage of 202 MWH on February 2. Authorities have pledged to apprehend more illicit miners.
— AZCoin News (@azcoinnews) February 22, 2022
A lot of people moved to Kazakhstan last year because China was cracking down on Bitcoin mining. The Central Asian country now has an unreliable power supply, which makes it more dangerous to mine Bitcoin there. This has led to a new wave of people moving there.
It was in June 2021 that Kazakhstan President Kassym-Jomart Tokayev made it legal to mine Bitcoin by setting up a tax band for mining. This month, he started calling for mining taxes to be raised.
The administration is expected to put together a full set of mining regulations by April 1.