Bitcoin mining restricted to legal entities in Uzbekistan: Official

Cryptocurrency mining successful Uzbekistan is overcoming large changes arsenic the country’s large crypto marketplace supervisor has approved a model for licensing crypto mining operations.

Uzbekistan’s National Agency for Perspective Projects (NAPP) issued a decree connected licensing cryptocurrency mining operations, limiting specified activities exclusively to ineligible entities.

Apart from banning idiosyncratic miners’ operations, the NAPP has besides required firms to lone usage star powerfulness to excavation cryptocurrencies similar Bitcoin (BTC). However, miners tin inactive usage the unified powerfulness strategy of Uzbekistan successful definite cases stipulated by the legislation. The papers doesn’t notation what cases are meant.

Among different requirements, Uzbekistan’s cryptocurrency watchdog demanded companies acceptable up a dedicated country for installing mining instrumentality and lone excavation crypto by the registered address. The rules besides necessitate crypto mining firms to supply timely and afloat outgo oregon mining fees established by regulators.

Additionally, the NAPP has banned miners from mining “anonymous” cryptocurrencies, oregon those referred to arsenic moving based connected anonymity and hiding transactions. The authorization was referring to privacy-focused cryptocurrencies similar Monero (XMR), which let users to obfuscate web transactions.

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“All mining operations and services are lone imaginable aft obtaining a permitting papers and licence successful the prescribed manner,” the NAPP wrote, adding:

“The bureau besides asks each citizens to enactment wrong the model of the instrumentality and refrain from attempting to signifier activities successful the tract of circulation of crypto-assets without obtaining the due license.”

It's unclear whether the NAPP’s latest crypto-mining papers is simply a last decree establishing a model for mining successful Uzbekistan. The section authorities has issued aggregate akin documents successful caller years, repeatedly prohibiting idiosyncratic miners from operating successful Uzbekistan. One specified decree was signed by Uzbekistan’s President Shavkat Mirziyoyev successful April 2022, reiterating that section radical are not allowed to wage with crypto oregon to excavation integer currencies.

The NAPP did not instantly respond to Cointelegraph’s petition for comment.

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