Kazakhstan to mandate 75% revenue sale from crypto mining for tax purposes
Every grubby govscum wants a slice of your pie - even if they hate the taste.
The headline is less than clear. It means:
To reduce the possibility of tax evasion, crypto miners in Kazakhstan will be forced to sell at least 75% of their revenue via registered crypto exchanges. This rule, which aims to collect “information on the income of digital miners and digital mining pools for tax purposes,” will be effective from Jan. 1, 2024, to Jan. 1, 2025.
And this is one of the top mining countries. Kazakhstan among top 3 Bitcoin mining destinations after US and China
Why?
Kazakhstan was among the first to welcome the displaced Chinese miners when the Chinese government imposed a blanket ban on Bitcoin and crypto mining and trading.
another protection racket pretending to be AML.
banksters are the laundry service.