Uzbekistan’s cryptocurrency mining landscape is undergoing significant changes, with the country’s crypto market regulator unveiling a framework for licensing crypto mining operations. According to the National Agency for Perspective Projects (NAPP), cryptocurrency mining can now only be conducted by legal entities, effectively banning individual miners. Moreover, mining operations are required to use solar power as their primary energy source, with limited exceptions allowing the use of Uzbekistan’s unified power system, details of which remain unspecified in the document.
The NAPP’s regulations also mandate that mining companies establish dedicated facilities for their mining equipment and conduct mining activities exclusively at registered addresses. Additionally, mining firms must ensure the prompt and complete payment of mining fees as determined by regulatory authorities. The NAPP has also prohibited the mining of anonymous cryptocurrencies, specifically referencing privacy-focused coins like Monero, which enable transaction obfuscation.
While these regulatory changes signal a significant shift in Uzbekistan’s approach to cryptocurrency mining, it remains unclear whether this latest document represents a final framework for the country’s mining industry. Uzbekistan has previously issued similar decrees, including one signed by President Shavkat Mirziyoyev in April 2022, which explicitly prohibited individuals from using cryptocurrencies for payments or engaging in digital currency mining. The NAPP has yet to respond to inquiries seeking further clarification on the matter.
