Spain Could Be A New Magnet For Bitcoin Mining Companies That Want To Leave Kazakhstan

Spain wants to accommodate crypto miners out of Kazakhstan. (thebitcoinnews)

JAKARTA – In the midst of a wave of protests that hit Kazakhstan due to rising fuel prices, the deputy of the Spanish Congress Maria Muñoz sent a letter to government agencies. The letter questioned the possibility of the government taking advantage of the situation and absorbing the Bitcoin mining business, especially the miners and mining companies that left Kazakhstan.

Due to the unrest that hit Kazakhstan, the government has shut down internet services there to quell the protests. However, the act has affected the bitcoin mining industry in Kazakhstan. As a result, Bitcoin's hash rate plummeted 12 percent after the event.

Finalmente, y dada la importancia de Kazajistán para el mercado de las criptomonedas a nivel global, también hemos dirigido una pregunta más específica al Gobierno sobre este asunto.

6/6 https://t.co/GmF6EhW6hN

— María Muñoz (@mariadelamiel) January 7, 2022

Based on the turbulent situation in Kazakhstan, Maria Muñoz asked the Spanish government about the development and how it would affect the existing crypto mining operations in Spain. Next, Muñoz asked about the growth of the crypto mining sector and the energy used for the mining industry.

Maria Muñoz has reportedly been interested in the Bitcoin mining industry for a long time, even before the Kazakh riots. Muñoz is one of the people who designed a national strategy for the cryptocurrency sector in order to build a clear framework so that it can attract investors and protect Spanish citizens from crypto scams.

On the other hand, cryptocurrencies in Spain experienced significant growth in 2021. However, there is no concrete institution that regulates the industry, as a result many Spaniards have a misunderstanding about crypto.

This prompted the Ciudadanos party to launch a campaign to tell Spanish citizens what cryptocurrency is. In addition, the party is also trying to coordinate with the European Union and a number of crypto companies on the Blue Continent.