In Uzbekistan, legal entities were allowed to mine cryptocurrencies using electricity generated by solar power plants. From 2023, the country's residents and companies will be able to buy and sell cryptocurrencies. The President of Uzbekistan Shavkat Mirziyoyev signed the decree on this.
Mining in Uzbekistan remains an unlicensed activity and will be subject to registration with the National Agency for Advanced Projects (this agency regulates the circulation of cryptocurrencies).
When using the resources of the unified energy system, miners are obliged to pay a double rate for electricity. At peak times, the government sets tariff surcharges for them.
"Starting from January 1, 2023, citizens and legal entities of the Republic of Uzbekistan may conduct operations of purchase, sale and exchange of crypto-assets exclusively through national service providers," Prime quotes the text of the presidential decree.
Blockchain and cryptocurrencies were legalized in Uzbekistan in 2018. It is only possible to sell cryptocurrencies in the country through specialized crypto exchanges. All electronic systems for such exchange trading must be hosted on servers in the country. Individuals can sell cryptocurrencies.
