The Republic of Abkhazia is witnessing a surge in crypto mining activities despite crypto-related activities being illegal since 2018. Customs have reported that mining hardware worth over $589,000 has crossed the border over the past six months.
According to Nuzhnaya Gazeta, importing crypto mining rigs remains legally permissible. Importers are required to pay taxes equal to 1% of the hardware’s worth and a VAT of 10%.
The largely unrecognized state in the South Caucasus, which is considered by several countries as an “autonomous republic” of Georgia, states that they’ve earned over $84,100 in taxes just from crypto mining rig imports since the start of 2020.
This is a step into the right direction ! Free world ! Free Mining !
Read full article here