Uzbekistan imposes monthly fees on cryptocurrency firms

НАПП of Uzbekistan obliged licensed cryptocurrency companies to pay monthly fees into the budget. The law has passed registration with the Ministry of Justice and comes into force immediately.

Tariffs vary depending on provider category:

• cryptocurrency exchanges must pay 120 million sums ($11,000) per month;
• mining pools – $2,750;
• cryptocurrency shops – $550;
• custodial services – $135.

The monthly amount for individual miners will be $275.

“Failure to pay the fee for a single month is grounds for license suspension. If a company fails to pay the monthly fee twice within a year, the license may be cancelled”, said the document.

Twenty percent of the total will go to NAPP, with the rest directed to the state budget.

Earlier in August, the regulator restricted Uzbek citizens’ access to unlicensed bitcoin exchanges and exchange services.

From 1 January 2023, individuals and legal entities will be able to conduct the purchase, sale or exchange of cryptocurrencies exclusively through service providers.

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