Gate News message, April 23 — Uzbekistan is establishing a special crypto mining zone in Karakalpakstan called “Besqala Mining Valley,” where mining income will be exempt from tax until 2035, according to a presidential decree from President Shavkat Mirziyoyev.
The zone will permit mining operations using all types of renewable energy sources. Residents may sell mined cryptocurrencies on local or foreign exchanges, but proceeds must be transferred to banks in Uzbekistan. Only legal entities registered and operating in Karakalpakstan are eligible for the tax exemption, and residents will pay 1% of monthly mining income to the zone’s directorate for the republican budget. Mining permits will be issued by the National Agency for Perspective Projects. Residents must comply with anti-money laundering and financial crime prevention regulations.
The decree relaxes Uzbekistan’s previous strict regulations on crypto mining, which had limited activities to entities using solar photovoltaic energy. The initiative aims to attract investments, create jobs, and promote renewable energy use in mining.
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