Yugocean
Valued Contributor
Recently, the President of Uzbekistan signed an executive order permitting national and international enterprises to mine cryptocurrency using solar power while also exempting all crypto companies from paying income tax.
In 2018, Uzbekistan made cryptocurrency trading on domestic exchanges legal. With its progress, all crypto enterprises,
Easy To Establish
Both domestic and international companies have equal opportunity, they must register with the newly formed "Uzbek National Agency for Perspective Projects", licenses are not required.
Experience From Kazakhstan
Uzbekistan has learned a lesson from Kazakhstan's predicament in this regard. Kazakhstan became the world's second-largest bitcoin mining centre in 2021, but the loss of coal power plants brought mining under strict control.
ENCOURAGING RENEWABLE ENERGY
Companies will have to install solar panels on their own dime in order to avoid affecting power plants. Companies who want to use the electrical grid will pay twice as much for electricity, with a possible additional penalty for higher consumption.
Conclusion
Uzbekistan is leading to become a great place for cryptocurrency, solar energy, and jobs related to solar power & crypto mining.
In 2018, Uzbekistan made cryptocurrency trading on domestic exchanges legal. With its progress, all crypto enterprises,
Easy To Establish
Both domestic and international companies have equal opportunity, they must register with the newly formed "Uzbek National Agency for Perspective Projects", licenses are not required.
Experience From Kazakhstan
Uzbekistan has learned a lesson from Kazakhstan's predicament in this regard. Kazakhstan became the world's second-largest bitcoin mining centre in 2021, but the loss of coal power plants brought mining under strict control.
ENCOURAGING RENEWABLE ENERGY
Companies will have to install solar panels on their own dime in order to avoid affecting power plants. Companies who want to use the electrical grid will pay twice as much for electricity, with a possible additional penalty for higher consumption.
Conclusion
Uzbekistan is leading to become a great place for cryptocurrency, solar energy, and jobs related to solar power & crypto mining.
