Uzbek regulator to begin issuing mining licences

On 6 September, President Shavkat Mirziyoyev signed amendments to the legislation, including those licensing mining.

“The laws include additions and amendments providing for the establishment of new types and subtypes of licensable activities (crypto exchange, mining pool, crypto depository and crypto shop) and mining activities,” the statement said.

Licensing of crypto-asset-related activities will be handled by the National Agency for Prospective Projects (NAPPP). Upon obtaining the permit, a legal entity must pay a state fee.

Penalties for operating without a license as a crypto-services provider are 300 BRV (about $8,150). For mining activity without authorisation — 150 BRV (about $4,075).

In June issued the first license for the operation of the crypto depository for Lockton Hub.

In August the regulator approved the operation of the crypto shop C-BASE. In the same month, commercial banks Ravnaq Bank and Kapital Bank were allowed to participate in the digital sandbox with the possibility of issuing cryptocurrency cards.