Kyrgyzstan

The State Committee of Homeland Security of Kyrgyzstan discovered an illegal cryptocurrency mining facility in the home of an official from the energy sector.

Kyrgyzstan has increased electricity fees for cryptocurrency mining farms. This is the country's attempt to alleviate the energy crisis allegedly caused by the miners' high consumption.

After announcing an official ban on cryptocurrency use in 2014, the Kyrgyz Republic seems to be reconsidering its legal frameworks around crypto trading and mining.

Welcome back to the Coin Idol TV News channel. The digest on April 16 features the following topics from the world of Blockchain and cryptocurrency: Kyrgyzstan sticks to politics that favor blockchain and cryptocurrencies, bitcoin price has risen after its recognition to the norms of Islamic money, JPMorgan sued over additional fees for cryptocurrency transactions, Japan finally trades $97 billion in just one month.

Among a lot of news from all around the world about crypto market regulation and banning policies, the legal system of the Kyrgyz Republic indeed shows a friendly attitude to the rapidly-developing financial technology. As a recent report states, Kyrgyzstan is set to create favorable conditions for cryptocurrency trading and bitcoin mining.

Kyrgyzstan, a country in Central Asia, is planning to issue its own national cryptocurrency, titled GoldenRock, and backed with gold. This is the first such state project of a national digital currency in the countries of the Eurasian Economic Union (EAEC).