The Uzbek government has established a special cryptocurrency mining zone called 'Besqala Mining Valley' in the Republic of Karakalpakstan. According to a presidential decree, the entire territory of Karakalpakstan has been declared a special zone for mining activities, creating new opportunities for the development of the cryptocurrency industry in the region.

Zone residents will be exempt from all taxes and fees until January 1, 2035, and will have access to renewable energy sources and hydrogen power plants. These incentives are designed to attract foreign and domestic investors while leveraging the region's energy potential for crypto mining operations.

Crypto assets obtained through mining activities can be sold through national crypto exchanges, foreign platforms, or exchanged for other liquid assets. A 'Besqala Mining Valley' directorate will manage the zone, while the National Agency for Prospective Projects will be responsible for issuing mining permits to qualified applicants.

Legal entities seeking resident status must apply to the directorate and obtain special mining permits. Currently, Uzbek citizens are only allowed to conduct crypto asset operations through licensed providers, with peer-to-peer trading platforms remaining prohibited under national regulations.

Source: podrobno.uz