ALMATY, Sept 2 (Reuters) - Kazakhstan is in talks to attract
investments worth 300 billion tenge ($714 million) into the
cryptocurrency sector, Digital Development Minister Bagdat
Mussin said on Wednesday.
Kazakhstan claims to account for 6% of global cryptocurrency
The country passed legal amendments in June clarifying the
regulation and taxation of cryptocurrency mining that it hopes
will boost its oil-dominated economy, which can offer relatively
cheap electric power for the energy-hungry business.
Thirteen "mining farms" are already operating in the Central
Asian nation and four are under construction, Mussin told a
"More than 80 billion tenge ($190 million) has been invested
in the sector," he said.
"Today we have preliminary agreements on attracting
investments worth 300 billion tenge."
Kazakh laws allow the mining of asset-backed
cryptocurrencies and prohibit work with unsecured ones such as
(Reporting by Olzhas Auyezov; Editing by Christian