The government says the tax debt will be slashed by 50% in response to a pro-rated drop in cryptocurrency prices after the obligations were set.
Laos halts electricity supply to crypto mining projects amid drought
The drought that the country experienced in the first half of 2023 resulted in higher electricity demand and lower power generation capabilities from hydropower plants.
Laotian govt budget expected to gain $194M from crypto miners by 2022
Lawmakers reportedly plan to use the extra revenue for “priority programs,” including paying down the national debt and responding to the pandemic.
Laos partners with Soramitsu on CBDC research as regulated crypto mining begins
Soramitsu, the firm that helped build Cambodia’s Bakong digital payments system, will work with the Laos government to research what a Laotian CBDC might look like.