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Uzbekistan authorities to discuss rules for cryptominers
09.07.2022
In Uzbekistan, a draft regulation on cryptomining has been created and submitted for implementation. In particular, anyone who wants to engage in this activity in the country must be registered at the government level, as well as use energy sources that come from renewable resources in a natural way.
All cryptominers undertake to register and renew their certificates every year. This is stated in the draft decree, which was signed by the director of the National Agency for Perspective Projects. NAPP refers to the main instrument of oversight in the country regarding cryptocurrency activities. The publication of the document has already attracted some proposals. It contains the main definitions. We are talking about cryptomining, miner, mining equipment, obtaining digital currency.
In accordance with the decree, cryptomining must be registered. In addition, all cryptominers need to use electrical energy, which is produced by a photovoltaic plant. They are also prohibited from supplying electrical energy from a power source to anyone else. As for farms that mine bitcoins, they have the ability to connect to the state electrical network. This is necessary to ensure the stability in the operation of their equipment using separate meters. This is relevant for such time of use of electrical energy, which refers to the night (starts at 22:00 and ends at 6:00), and also starts after 17:00 and ends before 22:00. During this time period, you will need to pay for the supply of energy additionally.
It is important to note that the access of cryptominers to a solar power plant that is capable of generating energy is mandatory. Otherwise, it is considered that the miner violates the law. This also applies to hidden mining. Providing NAPP with information about the operations performed in relation to the mined cryptocurrency by miners who are certified must be carried out on the basis of the terms and actions regulated by the authorized body. It must be said that such miners do not pay the tax set on crypto assets that are income. The sale of digital coins should take place exclusively on such a cryptocurrency exchange, which is registered in Uzbekistan.
All cryptominers undertake to register and renew their certificates every year. This is stated in the draft decree, which was signed by the director of the National Agency for Perspective Projects. NAPP refers to the main instrument of oversight in the country regarding cryptocurrency activities. The publication of the document has already attracted some proposals. It contains the main definitions. We are talking about cryptomining, miner, mining equipment, obtaining digital currency.
In accordance with the decree, cryptomining must be registered. In addition, all cryptominers need to use electrical energy, which is produced by a photovoltaic plant. They are also prohibited from supplying electrical energy from a power source to anyone else. As for farms that mine bitcoins, they have the ability to connect to the state electrical network. This is necessary to ensure the stability in the operation of their equipment using separate meters. This is relevant for such time of use of electrical energy, which refers to the night (starts at 22:00 and ends at 6:00), and also starts after 17:00 and ends before 22:00. During this time period, you will need to pay for the supply of energy additionally.
It is important to note that the access of cryptominers to a solar power plant that is capable of generating energy is mandatory. Otherwise, it is considered that the miner violates the law. This also applies to hidden mining. Providing NAPP with information about the operations performed in relation to the mined cryptocurrency by miners who are certified must be carried out on the basis of the terms and actions regulated by the authorized body. It must be said that such miners do not pay the tax set on crypto assets that are income. The sale of digital coins should take place exclusively on such a cryptocurrency exchange, which is registered in Uzbekistan.
