Foreign media: Kazakhstan will not tax crypto mining

On December 4, Kursiv, a local business publication in Kazakhstan, reported that Madi Saken, a legislative analyst with the National Blockchain Development and Data Center Industry Association of the Republic of Kazakhstan, said that cryptocurrency mining will not be considered as a corporate activity, but "Pure technological progress." According to the report, lawmakers in Kazakhstan have completed a draft law on crypto taxation. The bill is currently under consideration by the Presidency and is said to be sent to the lower house of the bicameral parliament of Kazakhstan in December 2019. The proposed law will establish the legal status of cryptocurrency mining and its tax regulations. According to Saken, digital assets and cryptocurrencies are not taxed because tax liabilities only apply to income earned in "real currency". Therefore, tax laws only apply when exchanging cryptocurrencies into fiat currencies. As of now, the organization has not responded to the report.