The Minister of Finance in Kazakhstan has approved rules for determining and publishing the value of digital assets in the country. The Committee of State Revenues of the Ministry of Finance will utilize information from the website CoinMarketCup to establish the value of digital assets.
The average weighted value of digital assets on CoinMarketCup at the close of each day will be used for valuation. On non-working days, the value will be based on the preceding working day's data. Digital assets with fixed values in foreign currency will be converted to the national currency using the exchange rate set by the National Bank of Kazakhstan.
The Committee of State Revenues will disclose information about the contracting party and a link to their website on its official site. The contracting party is required to publish the value of digital assets according to the specified list on their website by the 25th of the month following the reporting month.
The list of digital assets that necessitate publication includes Bitcoin, BitcoinCash, Dash, Dogecoin, EthereumClassic, Horrizen, Litecoin, Monero, Siacoin, Thronix, and Zcash. CoinMarketCup offers real-time data on the value, market capitalization, and trading volume of digital assets.
These regulations will become effective on April 15, 2024.
