Laotian govt budget expected to gain $194M from crypto miners by 2022
The Laos government’s pilot project to explore cryptocurrency mining and trading is expected to bring in roughly $194 million towards the country’s total domestic revenue projected for 2022.
According to a Nov. 2 report from Malaysian news outlet The Star, the Laotian government’s recent bid to capitalize on China’s crypto mining crackdown may be netting the country 2 trillion kip — roughly $194 million at the time of publication — in revenue from six firms. The companies in the public-private mining pilot program officials approved in September include Wap Data Technology Laos, Phongsubthavy Road and Bridge Construction, Sisaket Construction Company Limited, Boupha Road-Bridge Design Survey, Joint Development Bank, and Phousy Group.
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