Kyrgyzstan Proposes Law to Tax Crypto Mining Activity

English Sep 2, 2019

According to a local newspaper, Kabar, a draft law was developed to allow taxation of crypto mining, which is expected to increase budget revenues and contribute to the principle of fair taxation.

The Kyrgyz government expects to earn 300 million in taxation, which is an impressive number given the country annual budget of $1 billion. Even though taxes limit miners profit this seems to be a much better way to go since the country used to ban cryptocurrencies.

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Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.