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Uzbekistan Presents Registration Requirements for Cryptocurrency Miners

Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy.

The decree states that crypto mining is subject to mandatory registration while noting it is not an activity that requires licensing. It also obliges crypto miners to utilize electricity produced by photovoltaic stations and bans them from providing power from their supply source to any third party.

Bitcoin mining farms will also be allowed to connect to the national power grid, to ensure the stable operation of their hardware, through a separate electricity meter. That applies to the peak times of consumption, between 5 p.m. and 10 p.m., and also at night, from 10 p.m. until 6 a.m., when they will pay a surcharge.

However, not having access to an operational solar power station, ready to generate electricity, will be considered a violation of the rules. The same applies to “hidden mining,” when someone else’s hardware is used without their knowledge, mining at a location different from the one specified during registration, as well as minting of “anonymous crypto assets.”

What’s your opinion about the upcoming crypto mining regulations in Uzbekistan? Let us know in the comments section below.


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