Tax on Bitcoin Mining that's something new that I heard this week and depending upon your view you may consider this a positive or a negative thing. So for this Post of mine, I will focus on both Negative and Positive things that may happen due to the Taxation on Mining Bitcoin in Kazakistan.

So let's get started with the Positive -

The only positive aspect that this Bill might bring would be the legitimacy of Bitcoin Mining and Bitcoin itself. There will be more and more people interested in Bitcoin as it will be talked about a lot. Plus all the funds raised from this tax will be used to fight the COVID Pandemic which is obviously a good thing.

So what about the Negatives -

The most obvious Negative would be the fact that a 15% Taxation sounds a tad bit too much to me. The price of Bitcoin is around 12000 USD and considering the mining difficulty, a 15% Tax sounds a little extra. In my opinion, 10-12% of Taxation should have been just enough. The problem with this might be the fact that some Bitcoin Mines might just try to go under the radar and not pay the Tax, which would clearly be bad for the overall.

So yeah things definitely look good for the Bitcoin Miners in Kazakhstan but at the same time, a little difficulty might arise so we have to wait and see if this Bill passes smoothly or if there is any modification to the Bill.