In an open letter to President Kassym-Jomart Tokayev, Kazakhstan-based digital asset miners, including eight major entities, urgently request a decrease in energy prices. They warn of industry-wide dessertion caused by untenable fees and increasing operational challenges, threatening an extinction of the country’s thriving mining ecosystem.
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Crypto Turmoil in Kazakhstan, Cracking Down Criminal Networks: A Week in the Crypto World
Eight cryptocurrency mining operators in Kazakhstan have protested over high electricity costs, possibly resulting in some businesses halting operations. Meanwhile, cryptocurrency transactions in China and Hong Kong have significantly dropped due to ongoing market slump and Beijing’s attempts to suppress digital assets.
Kazakhstan’s Crypto Woes: Mining Dilemmas and National Resource Strains
“Crypto miners in Kazakhstan, the third-largest global market for Bitcoin mining hash rate, warn of extinction due to high energy prices. This situation highlights the balance between promoting growth in the crypto industry and its role in contributing to national resources and taxes.”
Binance’s Regulated Expansion in Kazakhstan: A New Era for Crypto Exchanges and Government Cooperation
Binance has launched a fully regulated brokerage in Kazakhstan, offering government-regulated cryptocurrency trading services. This move comes amid regulatory challenges faced by the exchange in the United States and the United Kingdom, showcasing Binance’s commitment to compliance and fostering growth in the crypto industry.