Uzbekistan collected more than $310,000 in fees from the Bitcoin industry in 2022

In 2022, five licensed cryptocurrency companies in Uzbekistan paid 3.5 billion soums (over $310,000) into the budget. This was announced by representatives of NAPP at a press conference on the agency’s results.

According to them, this was made possible by upgrading the licensing system for companies and introducing fixed fees for activities in the turnover of crypto assets.

At present, UzNEX Exchange and four crypto shops — Crypto Trade NET, Crypto Market, Crypto Express and Coinpay.

Under the law, providers of cryptocurrency services pay fixed monthly fees to the budget. For exchanges the amount is 400 BRV (120 million soums or a little over $10,600), for crypto shops [in the law they are called crypto shops] — 20 BRV (6 million soums or about $532).

80% of the fees are directed to the budget, the remaining 20% go to the treasury accounts of the Agency for Prospective Projects in a commercial bank.

Transactions by legal and natural persons related to crypto asset turnover, including those conducted by non-residents, are not subject to taxation.

Earlier in June 2022, NAPP developed a regulation on registration for miners.

For more on Uzbekistan’s crypto-market regulation adopted in 2022, read ForkLog’s special material.