Kyrgyzstan President: Allow cryptocurrency mining activities in areas with power generation capacity permits

ChainCatcher news, Kyrgyzstan President Japarov accepted an interview with the Kabar National News Agency, answering questions about the country's virtual asset mining sites for hydropower station construction, confirming the allowance for cryptocurrency mining activities in areas with power generation capacity permits, generating revenue for the electricity sector. During winter power shortages, the operations of these mining sites will be suspended, operating for the remaining nine months.

The President of Kyrgyzstan stated that crypto mining can generate millions of dollars in tax revenue; for example, the mining site in Kemin transferred 480 million soms to the electricity sector in six months, paying 225 million soms in taxes.