Cryptocurrency mining in Uzbekistan is overcoming major changes as the country’s main cryptocurrency market regulator has approved a licensing framework for cryptocurrency mining operations.
National Prospects Agency of Uzbekistan (NAPP) release The decree on the licensing of cryptocurrency mining operations limits such activities to legal entities.
In addition to prohibiting individual miners from operating, NAPP also required The company uses only solar energy to mine cryptocurrencies such as Bitcoin (BTC). However, miners can still use Uzbekistan’s unified electricity system under certain circumstances specified in the legislation. The implications of the case were not mentioned in the document.
Among other requirements, Uzbekistan’s cryptocurrency regulator requires companies to set up dedicated rooms to install mining equipment and only mine cryptocurrencies through registered addresses. The rules also require cryptocurrency mining companies to promptly pay mining fees set by regulators in full.
Additionally, NAPP prohibits miners from mining “anonymous” cryptocurrencies, or so-called cryptocurrencies based on anonymous and hidden transactions. The agency was referring to privacy-focused cryptocurrencies like Monero (XMR), which allow users to obfuscate online transactions.
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“All mining operations and services can only be carried out after permission documents and permits have been obtained in the prescribed manner,” NAPP wrote, adding:
“The agency also asks all citizens to act within the legal framework and not attempt to organize activities in the field of crypto-asset circulation without obtaining appropriate licenses.”
It is unclear whether NAPP’s latest cryptocurrency mining document is the final decree establishing a mining framework in Uzbekistan. In recent years, local governments have issued similar documents many times, banning individual miners from operating in Uzbekistan.One of the laws is sign Uzbek President Shavkat Mirziyoyev reiterated in April 2022 that locals will not be allowed to use cryptocurrencies to pay or mine digital currencies.
NAPP did not immediately respond to Cointelegraph’s request for comment.
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