{"id":85333,"date":"2023-10-04T13:53:52","date_gmt":"2023-10-04T10:53:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85333"},"modified":"2025-09-12T22:38:54","modified_gmt":"2025-09-12T19:38:54","slug":"uzbek-regulator-explains-the-licensing-process-for-cryptocurrency-mining","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/uzbek-regulator-explains-the-licensing-process-for-cryptocurrency-mining\/","title":{"rendered":"Uzbek regulator explains the licensing process for cryptocurrency mining"},"content":{"rendered":"<p>The National Agency for Prospective Projects of Uzbekistan <a href=\"https:\/\/lex.uz\/ru\/pdfs\/6623732\">published<\/a> a regulation detailing the process for issuing licenses to engage in cryptocurrency mining.<\/p>\n<p>According to the document, mining must be carried out solely by a legal entity.<\/p>\n<p>Licenses are issued for five years. To obtain one, companies must meet the following:<\/p>\n<ul class=\"wp-block-list\">\n<li>Use of electricity generated by a solar photovoltaic plant, except as provided by law;<\/li>\n<li>There must be a separate room for equipment installation;<\/li>\n<li>Compliance with requirements in the field of cryptoasset turnover;<\/li>\n<li>Mining must be carried out only at the address specified in registration;<\/li>\n<li>Ensuring the technical reliability of the power supply system;<\/li>\n<li>Having a device to measure energy consumption;<\/li>\n<li>Timely and full payment of taxes and bills.<\/li>\n<\/ul>\n<p>The regulation also prohibits:<\/p>\n<ul class=\"wp-block-list\">\n<li>Surreptitious mining;<\/li>\n<li>Mining of anonymous cryptocurrencies;<\/li>\n<li>Activities without a license;<\/li>\n<li>Transfer of the license to another legal entity.<\/li>\n<\/ul>\n<p>Companies that have received approval must provide information about their operations upon request by the competent authority in electronic form.<\/p>\n<p>Mined assets may be traded only on Uzbekistan-licensed crypto exchanges.<\/p>\n<p>In total, the National Agency for Prospective Projects identified 16 steps for legal entities and the competent authorities in the licensing process\u2014from preparing the relevant documents to regulator&#8217;s approval of the application.<\/p>\n<p>On 6 September, the Uzbek president Shavkat Mirziyoyev <a href=\"https:\/\/forklog.com\/en\/news\/uzbek-regulator-to-begin-issuing-mining-licences\">signed<\/a> amendments to the legislation, including those concerning mining.<\/p>\n<p>Earlier in June, the agency <a href=\"https:\/\/forklog.com\/en\/news\/uzbekistan-issues-first-crypto-depository-license\">issued the first license<\/a> for the operation of Lockton Hub&#8217;s cryptodepository services.<\/p>\n<p>In August the regulator <a href=\"https:\/\/forklog.com\/en\/news\/c-base-crypto-exchange-secures-license-in-uzbekistan\">approved<\/a> the operation of the crypto store C-BASE. In the same month, Ravnaq Bank and Kapital Bank <a href=\"https:\/\/forklog.com\/en\/news\/two-uzbek-banks-granted-permission-to-issue-crypto-cards\">allowed<\/a> to participate in the digital sandbox with the ability to issue cryptocurrency cards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Agency for Prospective Projects of Uzbekistan published the regulation on the licensing procedure for cryptocurrency mining.<\/p>\n","protected":false},"author":1,"featured_media":85334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,36,1206],"class_list":["post-85333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-regulation","tag-uzbekistan"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=85333"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85333\/revisions"}],"predecessor-version":[{"id":85335,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85333\/revisions\/85335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85334"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}