Uzbekistan Introduces Special Mining Zone with Tax Incentives

Uzbekistan's government has introduced a new initiative aimed at boosting its cryptocurrency industry. A special mining zone in Karakalpakstan, known as Besqala Mining Valley, has been established under the decree issued by President Shavkat Mirziyoyev.

The zone will offer significant tax benefits to businesses operating within it, with no taxes payable on mining income until 2035. This move is expected to attract investors and create job opportunities in the region.

Additionally, the zone will promote the use of clean energy, allowing miners to operate using various types of renewable energy sources beyond solar power. Businesses operating in the zone will also be permitted to sell their mined digital currencies on local and international exchanges.