Uzbekistan has issued requirements for miners – Bits Media

National Agency for Advanced Projects (NAPP) Uzbekistan obliges miners to register and use solar energy to mine cryptocurrencies.

NAPP issued a regulatory act, which so far outlines the instructions for registration of mining activities. The revised document is planned to be released 9 july.

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

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

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

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