Kentukki State to Provide Tax Benefits to Crypto Miners

The Governor of Kentukki has submitted two laws concerning the taxation of commercial cryptocurrency mining.

Compatibilitya draft law, a new section KRS 1Z9 has been issued,kotopy oppedelyaet pazlichnye tepminy, otnocyaschiecya to kommepcheckomu mayningu kpiptovalyuty c icpolzovaniem texnologii blokcheyn and ppeducmatpivaet ocvobozhdenie From naloga nA ppodazhu and matepialnoe lichnoe imuschectvo and elektpoenepgiyu, icpolzuemuyu in ppotsecce nA chetype goda - c July 1, 2021 goda Po Z0 June 2025 goda.

In the law, speak about how the GeneralThe accoutry actively promotes the use and development of blockchain technology since 2019 and has created a working group for studying the use of blockchain technology in different ways.

«The Commonwealth has the opportunity to becomea national leader in the emerging commercial cryptocurrency mining industry, given its strong electricity supply, which can be offered at lower prices than m in most states,” the document says.

To apply for this exclusion, it is necessarySubmit an application for each location where cryptocurrencies are being extracted. The application must contain the name and mailing address of the person who is seeking tax exemption, a description of his / her activity and the means of support Other information may also be required.

After this certificate, a certificate will be issued, valid from the date of filing the application.

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