The Procedure For Registering A Crypto Company In The AIFC

The electricity price, legislation and location of Kazakhstan makes the country a potential world leader in crypto mining. The government is actively involved in adapting existing laws to improve the possibilities for the existence of various types of crypto companies in the country.

However, at the moment, the legislation of Kazakhstan prohibits the circulation of cryptocurrencies, but crypto mining is not prohibited by law. In June 25, 2020, the President of Kazakhstan signed the Law of the Republic of Kazakhstan "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Regulation of Digital Technologies", which officially legalises crypto mining in Kazakhstan. A fee for miners has been established in the amount of one tenge per 1 kWh of the consumption amount of electricity, will come into force on January 1, 2022.