The Nationwide Company for Perspective Tasks (NAPP) of Uzbekistan has issued a decree outlining up to date necessities for cryptocurrency mining inside the nation.
Uzbekistan’s regulatory physique, the Nationwide Company for Perspective Tasks (NAPP), has launched a decree detailing the necessities for cryptocurrency mining within the nation. The doc highlights a number of key modifications and clarifications within the regulatory framework.
The decree states that solely authorized entities will probably be permitted to have interaction in cryptocurrency mining, disallowing particular person operations. This directive is according to earlier paperwork issued by the native authorities, such because the one in April 2022 signed by President Shavkat Mirziyoyev, which highlighted the identical prohibition for native residents concerning cryptocurrency transactions and mining.
Relating to power sources, the NAPP specifies that corporations ought to predominantly use solar energy for his or her mining operations. Nevertheless, the doc additionally mentions that there are situations beneath which the unified energy system of Uzbekistan can be utilized, though these situations aren’t detailed within the present decree.
Infrastructure-wise, the NAPP requires corporations to determine particular areas devoted to mining gear. All mining operations ought to happen on the registered addresses of those corporations.
The NAPP has set clear boundaries regarding the kind of cryptocurrencies that may be mined. For instance, cryptocurrencies that emphasize transaction anonymity, equivalent to Monero (XMR), aren’t permitted for mining beneath the brand new rules.
For a corporation to have interaction in mining actions or companies, it’s important to acquire the mandatory permits and licenses as acknowledged by the NAPP. The company has additionally urged all individuals to make sure they function inside the authorized framework and to keep away from any cryptocurrency-related actions with out the required license.
The finality of this decree is but to be confirmed. The federal government has issued several similar documents over the latest years, resulting in questions concerning the definitive stance and framework for cryptocurrency mining in Uzbekistan.
