Kazakhstan is working on a new bill covering blockchain and cryptocurrency mining

According to BlockBeats, ambcrypto recently reported that Kazakhstan is drafting a new bill that mentions encryption technology, blockchain and cryptocurrency mining, and the bill has sought approval from the lower house of parliament. The article quoted the views of Alan Dorjiev, a Bitcoin miner in the country, saying that the bill has been planned since 2018 and was eventually submitted to the Senate for deliberation. Dorjiev said that in this bill, mining is a technical process. Providing services for mining is an entrepreneurial activity. The bill also divides cryptocurrencies into "token-backed tokens" and "unbacked tokens."

According to the Bitcoin Mining Map data released by the Cambridge Center for Emerging Finance (CCAF), Kazakhstan provides 6.17% of the total BTC computing power, following closely behind Russia and the United States, which contribute 6.90% and 7.24% of the computing power respectively.

It is understood that countries such as Paraguay, Kazakhstan and Uzbekistan are also attracting Chinese mining companies. Unlike in China, some older equipment is more suitable for placement in these countries.

Original link: https://eng.ambcrypto.com/bitcoin-mining-mentioned-in-new-kazakhstans-bill-cleared-in-the-lower-house/