Kazakhstan Presents First Draft Law on Crypto Mining

Kazakhstan is looking to regulate and welcome the cryptocurrency industry as it recently presented its first draft law on cryptocurrencies. The Central Asian nation’s recent draft law which seeks to provide the proper framework for crypto regulation covers the areas of cryptocurrency mining. Kazinform, an international news agency based in Kazakhstan, first reported the development Thursday. According to the report, the crypto draft law was prepared by deputies of the Kazakh Mäjilis. The Mäjilis is the lower house of the parliament of Kazakhstan. Speaking on the bill, a member of the Committee for Economic Reform and Regional Development of the Mäjilis, Smyshlyaeva Ekaterina Vasilevna shared more insight on the nature of the bill, its necessity, and the growing need for proper regulation.