What is CoinMarketCap, where is the cost of digital assets published, and how are taxes on such transactions calculated?

Asem Bolatjan, city — Almaty, Chairman of the Public Council under the Ministry of Industry and Infrastructure Development

Determination of the value of digital assets

New rules for determining and publishing the value of digital assets come into force on January 1.

One of the key innovations is the introduction of the concept of a digital mining pool. This is a legal entity that provides infrastructure and distributes digital assets among participants.

CoinMarketCap — the website where the value, trading volume, and other indicators of digital assets will be published. These data will be used by the Committee of State Revenues, KGR. On working days, the weighted average price formed based on trading results for the day is applied. If trading does not take place, the price of the last working day is used. This rule applies to all types of digital assets included in the approved list.

What is considered a digital asset

A digital asset is defined as property created in electronic form with the assignment of a digital code, including cryptographic and computational methods. Important: a digital asset is not a legal tender, but it must be registered and backed by data immutability.

How taxes are calculated

Income from mining, mining pool activities, and crypto exchanges will be determined based on the value of digital assets on the date of receipt.

If an asset has a fixed price in foreign currency, it is recalculated into tenge at the official exchange rate of the National Bank.

For tax administration purposes, the KGR concludes agreements with owners of internet resources that publish current data on the value of digital assets.

The list of such resources will be open and posted on the KGR website.

The publication of values must occur monthly, no later than the 25th of the following month.

If an asset is not included in the approved list, the price posted on the internet resource is used. The list is constantly being updated.

These rules bring clarity to the regulation of digital assets and create a transparent environment for the development of the crypto business.