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During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only three application-specific integrated circuit (ASIC) … Read more
Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto payments are illegal in the Kyrgyz Republic. National Bank of Kyrgyzstan Urges Caution With Cryptocurrency Cryptocurrencies and other virtual assets are increasingly spreading in Kyrgyzstan, … Read more
Kyrgyzstan has regulated the crypto exchanges and the mining industry, however, there are no laws governing the circulation of cryptocurrencies in the country. Go to Source Powered by WPeMatico
Authorities in Kyrgyzstan have uncovered and shut down a large crypto mining farm in the north of the country. Law enforcement officials claim the illegal coin minting facility has inflicted “colossal damage” to the nation’s power grid and that they are still trying to estimate the losses. Underground Crypto Farm Busted in Kyrgyzstan The region … Read more
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining facilities in Kyrgyzstan will … Read more
The new regulatory framework aims to bring the legal status to cryptocurrency exchanges in Kyrgyzstan. Go to Source Powered by WPeMatico
Law enforcement authorities in Kyrgyzstan have confiscated thousands of crypto mining machines as part of a new offensive against illegal cryptocurrency mining in the country. Investigators have also identified industrial enterprises that have been supplying the bitcoin farms with electricity. Security Service Conducts Operation Against Illegal Mining in Kyrgyzstan The State Committee for National Security … Read more
As the Kyrgyz government discusses raising electricity tariffs again, a former official says that crypto mining is a significant driver of the ongoing energy crisis. Go to Source Powered by WPeMatico
The central bank of the Kyrgyz Republic wants to provide crypto investors with the same level of protection that is already in place in traditional finance. Go to Source Powered by WPeMatico
The central bank of The Kyrgyz Republic has drafted regulations that recognize cryptocurrency exchanges in the country for the first time. Go to Source Powered by WPeMatico
