Kyrgyzstan to legalize cryptocurrency mining

posted 4 months ago
Legislature in the Kyrgyz Republic is considering tax legislation to regulate cryptocurrency mining.

The amendment of the Tax Code of the Kyrgyz Republics is to increase government revenue by imposing tax obligations on miners, in addition to defining the terms “virtual assets” and “mining” in the context of cryptocurrencies. If approved, The new tax system would be the first important step towards legitimisation of the use of cryptocurrencies in the Kyrgyz Republic. The country has before explicitly prohibited the use of crypto assets as a means of payment.
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