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Uzbekistan released requirements for miners

The National Agency for Advanced Projects (NAPP) of Uzbekistan has obliged miners to register and use solar energy to mine cryptocurrencies.

The NAPP has issued a regulation that so far outlines the instructions for registering mining activities. The finalized document is scheduled to be released on July 9th.

According to the document, mining can be carried out exclusively by a legal entity using electricity provided by a solar photovoltaic power plant. At the same time, mining is subject to mandatory registration by a special authority and is not a licensed activity.

The operator can carry out mining activities only after receiving a certificate, the validity of which will be 1 year. In addition, all miners will need to register in the electronic registry. The procedure for obtaining a certificate, according to the document, should take no more than 20 days from the date of application.

All cryptocurrency mined in this way will be exempt from taxation, however, special tariffs for electricity will be set for mining farms. Also, all trading operations with extracted assets can be carried out on stock exchanges registered in Uzbekistan, and the mining of anonymous digital currencies will be prohibited.

Recall that in May, the President of Uzbekistan issued a decree on the regulation of the cryptocurrency market, as well as the introduction of a fixed personal income tax rate for industry participants and mandatory contributions to state trust funds.

Source: Bits

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