Cryptocurrency Analysis and News Portal
Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto payments are illegal in the Kyrgyz Republic. National Bank of Kyrgyzstan Urges Caution With Cryptocurrency Cryptocurrencies and other virtual assets are increasingly
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The firm expects the 31.5 MW facility to be ready in July. Source
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The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining
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The government of Kyrgyzstan is moving forward with cryptocurrency adoption by introducing a national regulatory framework for crypto trading platforms.Kyrgyzstan’s State Service for Regulation and Supervision of Financial Markets (Gosfinnadzor), a regulatory agency operating under the Ministry of Economy and Finance, has developed a draft provision for regulating crypto exchanges,
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The National Bank of Kyrgyzstan has published draft legislation that would legally define cryptocurrency and how it may be used in the Central Asian nation. With the proposed legislation, the central bank is following the call of the Financial Action Task Force (FATF) to regulate cryptocurrencies and prevent related money
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[sociallocker id="55298"] Lawmakers in the Kyrgyz Republic are considering a bill to tax and regulate cryptocurrency mining activities. The bill, On Amending the Tax Code of the Kyrgyz Republic, seeks to increase government revenue by establishing taxation obligations for miners, in addition to establishing clear definitions for the terms ‘virtual assets’
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Authorities of Kyrgyzstan cut off power to 45 crypto mining firms as they consumed more energy than three local regions combined.Following the power cut, the head of the National Energy Holding Aitmamat Nazarov stated that the cryptocurrency mining is not defined under Kyrgyzstan law, local news agency AKIpress reported
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On Aug. 28, the Ministry of Economy of Kyrgyzstan has submitted the draft law “On Amending the Tax Code” with the aim of introducing cryptocurrency mining taxation.New tax proposalAccording to news outlet Kabar, the draft law was specifically developed to allow for the possible taxation of crypto mining.The taxation
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