{"id":53045,"date":"2021-11-17T16:31:38","date_gmt":"2021-11-17T14:31:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53045"},"modified":"2025-09-03T13:04:56","modified_gmt":"2025-09-03T10:04:56","slug":"laos-unveils-rules-for-regulating-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/laos-unveils-rules-for-regulating-cryptocurrencies\/","title":{"rendered":"Laos unveils rules for regulating cryptocurrencies"},"content":{"rendered":"<p>The Lao government published rules regulating cryptocurrency mining and the operation of digital-asset trading platforms. The <a href=\"https:\/\/laotiantimes.com\/2021\/11\/15\/government-issues-regulations-for-cryptocurrency-miners-and-platforms-in-laos\/\">Laotian Times<\/a> reports.<\/p>\n<p>According to Technology and Communications Minister Dr Boviengkham Wongdare, the initiative is aimed at protecting the rights and interests of both operators and users.<\/p>\n<p>The document defines the types of permitted operations and how they are to be organized. Firms must be owned by residents and have adequate capital. A requirement is to deposit with the central bank a security deposit of $5 million.<\/p>\n<p>Miners must consume at least 10 MW of electricity. The capacity for mining cryptocurrencies in the amount of 115 kW or 230 kW is provided under a six-year contract with an option to extend.<\/p>\n<p>To stimulate activity, the government will exempt Electricite du Laos, the national generation company, from transmission charges and import taxes.<\/p>\n<p>Miners are required to pay a single lump-sum tax depending on power consumption. For every 10 MW, companies must pay $1 million. The Ministry of Energy will ensure miners have sufficient electricity and will offer preferential tariffs during the rainy season.<\/p>\n<p>A similar amount of $1 million is payable by operators of Bitcoin exchanges for obtaining a licence and starting operations. The tax on the volume of commissions earned will be 15%.<\/p>\n<p>Laos will also <a href=\"https:\/\/www.nst.com.my\/world\/region\/2021\/11\/745801\/laos-issues-new-regulations-govern-cryptocurrency\">\u0438\u0437\u0443\u0447\u0438\u0442<\/a> the possibility of issuing a CBDC. In October, the central bank signed an agreement with the Japanese International Cooperation Agency. The initiative is supported by fintech company Soramitsu.\u00a0\u00a0<\/p>\n<p>In September, Laos authorities <a href=\"https:\/\/u1f987.com\/en\/news\/laos-legalises-cryptocurrency-mining-and-trading\">approved<\/a> mining and trading of Bitcoin, Ethereum and Litecoin for six companies.<\/p>\n<p> Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Lao government published rules regulating cryptocurrency mining and the operation of digital assets trading platforms. The Laotian Times reports.<\/p>\n","protected":false},"author":1,"featured_media":53046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1137,2244,36],"class_list":["post-53045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-cryptocurrency-mining","tag-laos","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"51","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53045"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53045\/revisions"}],"predecessor-version":[{"id":53047,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53045\/revisions\/53047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53046"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}