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  /  Stock   /  Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%
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Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%

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imageCryptocurrency7 hours ago (Aug 06, 2020 05:40PM ET)

Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%

A proposal made by the government of Kazakhstan aims to impose a 15% flat-rate tax on crypto mining. The plan would use any funds accumulated through the tax to deal with the COVID-19 crisis in the country.

According to Forbes, the Ministry of the Economy hopes to combat COVID-19 by funding countermeasures through the collection of such taxes. This represents a departure from the nation’s previous statements, which indicated a different stance from the country. Officials stated that approximately 6% of the world’s Bitcoin (BTC) hash rate comes from Kazakhstan.

Continue Reading on Coin Telegraph

Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%

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