Development of a regulatory approach for virtual asset mining

Kazakhstan, Uzbekistan, Kyrgyzstan and Iran - a comparison

by Allison Owen and Fatima Alsancak

Virtual asset mining, or the process of users verifying transactions on a blockchain, has started to catch the attention of regulators in the past five years. However, the sector classification for this activity remains ambiguous, as do the regulations and conditions that should govern it. This article will examine virtual asset mining from a regulatory perspective, looking at various approaches taken by jurisdictions.¹