Kazakhstan President Kassym-Jomart Tokayev has signed a law to limit the energy consumption of domestic cryptocurrency miners
The country has seen an influx of bitcoin miners, putting a strain on the energy grid.
The new law restricts miners from consuming energy from the national grid unless there is a surplus, which will be distributed among licensed operators.
Those using renewable energy, imported electricity, or their own energy generation capacity not connected to the grid, are exempt from this cap.
The legislation requires miners to be licensed and establishes a minor adjustment to the tax regime for the industry.
Kazakhstan is also looking to regulate digital assets exchanges in the wake of the FTX fiasco.
Miners must sell half of their crypto to registered exchanges in the Astana International Finance Centre by 2024, and 75% by 2025.
Kazakhstan is also planning to regulate digital asset exchanges.
