news 
Kyrgyzstan Crypto Mining Faces 50% Drop in Tax Revenue In 2024
In a surprising turn of events, Kyrgyzstan has reported a massive 50% drop in tax revenue from cryptocurrency mining in 2024. This substantial decline is a stark contrast to the rapid growth experienced by the industry during 2023.
Despite the global rise in crypto valuations, Kyrgyzstan’s tax revenue from mining saw an unprecedented drop of 46.6 million Kyrgyzstani soms (approximately $535,000) this year compared to the 93.7 million soms ($1.08 million) collected in 2023.
Source: coinpedia.org
