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29 March 2024
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Kazakhstan Targeting Bitcoin Miners With 500% Tax Scuttlebutt

  • Things are not very much in favor of the Kazakh miners. At the beginning of this year, a nationwide internet shutdown influenced Bitcoin miners.
  • Kazakhstan was globally the second best nation in terms of hash rate, just behind the United States. But recent events in the nation affected these stats and miners significantly.
  • As of this writing, Bitcoin dominated the crypto market, trading at a market value of $43,586.9, bearish by 0.62% in the previous 24 hours.

Black Clouds Still Following Kazakh Miners

Bitcoin miners lured a myriad of attention on crypto news wires recently. The Center of attraction has been the continuing energy crisis all over Eastern Europe and escalated legislative scrutiny.

CIS and Russia are close to the news, too, as legislators from across the globe are eyeing to deliver an international cryptocurrency regulatory structure.

At the year’s turn, Kosovo authorities implemented an outright prohibition on cryptocurrency mining, holding the ban accountable for an energy crisis. However, Kosovo authorities are not the only ones, with Georgian authorities also forcing residents to commit not to do crypto mining.

Dark clouds are still hovering overhead for Kazakh miners, as things are not very favorable for them. At the beginning of the year, the entire nation faced a complete Internet shutdown, taking down bitcoin miners as collateral. Protests were spread like wildfire on Kazakh streets after authorities eliminated fuel prices.

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