The Republic of Kazakhstan is a central Asian country with a population of around 18 million people and an area of 2.7 million square kilometers, making it the ninth largest country in the world. Kazakhstan is a dominant economy of central Asia, with the largest GDP and strong rates of growth due to great reserves of oil, minerals and metals. Kazakhstan is also performing well in car manufacturing and agriculture. Kazakhstan is a blockchain-welcoming country. Kazakh authorities were one of the first to announce plans of blockchain adoption in such fields as taxation, customs and cargo tracking. However, the central bank of Kazakhstan is skeptical toward Bitcoin. Even though there are a lot of possible benefits for selling Kazakhstan’s electricity to Bitcoin miners, the central bank of Kazakhstan sees Bitcoin as a money-laundering tool and a way of avoiding tax, so it is currently intending to prohibit the purchase, sell and mining of crypto.
The phenomenal recovery of the mining hash rate for BTC goes to show how resilient the network and its community are to world events.
Bitcoin miners’ resilience to geopolitics: A healthy sign for the network
Bitcoin’s hash rate hits new all-time highs as Jack Dorsey tweets that Block is “officially building an open Bitcoin mining system.”
Bitcoin hash rate jumps to ATH as Jack Dorsey confirms Block’s mining system
After Bitcoin Magazine’s YouTube channel was temporarily shut down without prior warning, the livestream’s hosts suggested that mentions of “Kazakhstan” may hav...
Don’t mention ‘K’ country: Bitcoin Magazine's YouTube restored after ban
ETH’s futures markets are slightly bearish, but options traders appear to be interpreting the rally to $3,200 as a bottoming signal.
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Binance makes another major strategic move in one of the world’s biggest cryptocurrency miner regions.
Binance taps former central bank exec to push compliance in CIS and Russia
Key BTC trading metrics are sitting on the edge of the “worst outcome” scenario, suggesting that the current sell-off is far from over.
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As the Bitcoin mining industry matures, it will seek stable political environments and stable energy sources.
Spanish lawmaker sees opportunity amid Kazakhstan’s Bitcoin mining collapse