Uzbekistan Establishes Special Zone for Cryptocurrency Mining with Tax Incentives

Uzbekistan has taken a significant step towards becoming a major player in the cryptocurrency mining industry by establishing a government-backed special zone for mining operations.

The Besqala Mining Valley, which was officially designated as a special economic zone for cryptocurrency mining, will provide a favorable business environment for companies operating within it. One of the key benefits of operating within the zone is tax exemption, with companies enjoying freedom from taxes until 2034.

However, while exempt from taxes, companies in the zone must still pay a monthly fee equal to 1% of their mining revenue to the agency operating the zone. This fee structure is designed to provide an additional source of income for the government while incentivizing investment in the zone.