Binance to Set Up Regional Office in Kazakhstan, Intends to Co-Develop Crypto Laws

Binance to Set Up Regional Office in Kazakhstan, Intends to Co-Develop Crypto Laws

ByNews Polite

Binance crypto exchange has signed an agreement with the government of Kazakhstan intending at fostering the crypto and Web3 culture. Kazakhstan’s Financial Monitoring Agency is looking to have Binance provide insights on framing laws around the crypto sector. Both the entities plan to target illicit activities around the virtual digital…

Unlawful Crypto Mining Unearthed in Russia’s Oldest Prison, Warden Accused of Electricity Theft

Unlawful Crypto Mining Unearthed in Russia’s Oldest Prison, Warden Accused of Electricity Theft

ByNews Polite

Russia’s oldest prison, called the Butyrka, has emerged as a site for unlawful crypto mining activities. A prison warden belonging to a high rank has also been accused of stealing electricity from other parts of the prison, in order to facilitate crypto mining from within the facility. Built in central…

Kazakhstan Tightens Noose on Crypto Miners With Power Consumption Report Requirements

Kazakhstan Tightens Noose on Crypto Miners With Power Consumption Report Requirements

ByNews Polite

Kazakhstan, that has been impacted with power shortages due to crypto mining, is bringing in new measures to deal with the issue. The government of Kazakhstan has mandated crypto miners to submit detailed reports justifying their power consumption requirements. Any mining business that wishes to begin operations in the Asian…