Kazakhstan collected $7M in crypto mining taxes in 2022
Crypto miners paid millions of dollars in energy fees last year following the regulation of the fiscal burden of mining activities. The government of Kazakhstan has received 3.07 billion tenge (approximately $7 million) in tax payments from crypto mining entities in 2022, following the implementation of an amended law regulating the fiscal burden of mining cryptocurrencies, according to the local media reports. Preliminary data from the government for 2023 shows that mining fees collected by April 27 totaled 240 million tenge - worth over $541,000 at the time of writing. The figures are much lower than the 652 million tenge (~$1.5 million) in fees paid in the first quarter of 2022. Kazakhstan ranks among the world's top Bitcoin mining hubs. As of January 2022, the Central Asian country contributed to 13.22% of the total Bitcoin hash rate, just behind the United States (37.84%) and China (21.11%), shows data from Cambridge Centre for Alternative Finance. Related: Can Canada stay...