The National Agency for Perspective Projects (NAPP) in Uzbekistan’s introduced New rules for mining cryptocurrency
Uzbekistan now only allows legal entities to mine cryptocurrencies, stipulating that their activities should involve the use of solar power.
Miner can connect to a unified electrical power system only in cases provided for by the Legislation, and need to install a separate electri energy meter.
Firms must be registered to dedicated mining locations, pay specially prescribed mining fees, and stay away from mining anonymous cryptos such as Monero. For mining, NAPP believes that all operations need licenses and permits.
Per the new rule, miners using unified electrical power system has to pay twice the amount of established tariff. At peak period they also have to pay surcharges established by the Cabinet of Ministers.
Miners can sell crypto assets mined through their operations only through licenced crypto exchanges.
NAPP added, “The agency also asks all citizens to act within the framework of the law and refrain from attempting to organize activities in the field of circulation of crypto-assets without obtaining the appropriate license.”
Uzbekistan’s shift towards regulated, solar-powered cryptocurrency mining aims to ensure transparency and compliance while discouraging unauthorized crypto activities.
Also Read: Two Banks Got Approval to Issue Crypto Cards in Uzbekistan
