The National Agency for Perspective Projects of Uzbekistan (NAPP) has developed a regulation on registration for miners.

According to the document, cryptocurrency mining can only be carried out by a legal entity using electricity produced by a “solar photovoltaic station”.

At the same time, miners can be connected to a single electricity grid with a separate meter:

• During the busy period, between 17:00 and 22:00, taking into account the appropriations determined by the Council of Ministers, according to the relevant tariffs;
• with a double multiplier application to the tariff determined between 22:00 – 06:00 at night.

Mining is subject to mandatory registration with NAPP. The certificate will be valid for one year and will be subject to a fee of 20 TL. BRV (at time of writing, 6 million soums or about $553).

Miners must meet several requirements in order to obtain a permit. For example, to have a working photovoltaic plant just operate it at the address specified during registration and report the operations at the request of the regulator.

You can get certified by applying to NAPP. The package of documents contains information about the legal entity, mining equipment, as well as a list of crypto assets planned to be mined, and wallet addresses.

Mined cryptocurrencies are not taxable. Other incomes of miners are taxed on a generally determined basis.

Additionally, the regulation prohibits mining of anonymous cryptocurrencies.

The document was sent to the public for comment and will run until 9 July.

Recall that in April the National Project Management Agency was converted to NAAPP and given the mandate to regulate the crypto industry.

From January 1, 2023, citizens and legal entities of Uzbekistan will be able to trade or exchange cryptocurrencies only through service providers. Second, it must register a legal entity in the country and obtain permission from the NAPP.

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