Uzbekistan Offers Tax Breaks for Cryptocurrency Miners

Uzbekistan has taken a significant step towards becoming a major player in the cryptocurrency mining industry by introducing a tax holiday on block reward mining until 2035.

The Besqala Mining Valley, located in Karakalpakstan, is expected to attract investors and create job opportunities while promoting the growth of renewable energy in the country. The new decree will allow businesses operating within the zone to use different types of renewable energy apart from solar power, marking a shift from earlier rules.

The government has granted the National Agency for Perspective Projects the power to issue permits to businesses that will operate in the Besqala Mining Valley, while a special management body will oversee daily operations and ensure compliance with regulations.