More than 661,000 citizens of Uzbekistan have registered on licensed cryptocurrency platforms, as the country continues to formalise and regulate its digital asset sector, according to the National Agency for Prospective Projects (NAPP).
Currently, 21 licensed crypto service providers operate in Uzbekistan. These include 12 crypto shops, 6 crypto depositaries and three crypto exchanges. In total, 663,691 clients have been registered, of whom 661,850 are residents.
Since 2022, companies operating in the crypto asset sector have paid more than $1.19 billion in state duties and fees. Of that amount, approximately $878 million came from state licence fees, while about $311 million was collected in ongoing monthly payments.
The licensing framework was introduced to regulate market participants and reduce risks associated with fraud and financial crime.
In December 2024, authorities approved updated state duty rates for crypto-related activities, including mining pools, crypto stores, depositaries and exchanges.
Two issuers - Humo Digital and Lockton Hub - have together issued more than 21 million tokens, including both asset-backed and utility tokens. Humo previously launched a pilot project for a token backed by Uzbekistan’s government bonds.
Additionally, Uzbekistan issued its first official cryptocurrency mining permit to private company NexaGrid, registered in Tashkent and operating in the Romitan district of the Bukhara region.
Under regulations adopted in 2023, only legal entities may engage in mining after obtaining a permit. Mining must take place at the registered address and in specially equipped premises that meet safety requirements.
Operators are required to use electricity generated from their own solar power facilities or comply with strict metering rules if connected to the national grid.
Hidden mining and the extraction of anonymous crypto assets are prohibited. Licensed miners must provide regular reports to the regulator on their activities and crypto wallets.
Digital development strategy
Authorities describe the regulatory approach as a balance between encouraging innovation and ensuring transparency.
The crypto sector is viewed as part of Uzbekistan’s broader digital transformation agenda, aimed at supporting fintech development, attracting investment and creating new employment opportunities. Officials say further improvements to the legal framework may follow as the market matures.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar wi...
An Iranian tanker was hit by U.S. forces on Saturday near Iran's key oil export hub, Kharg Island, in the Gulf...
Spanish authorities are preparing a new site in Ceuta to accommodate hundreds of migrants who remain on the str...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, according to three senior Iranian sources. Washington is escalating pressure in hopes of securing concessions in future negotiations.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4th of September, covering the latest developments.
Two people have been rescued alive from a tunnel in Nepal, nine days after catastrophic floods devastated the country, as rescuers continue searching for survivors.
A unique architectural monument dating back to the 9th to 12th centuries has been discovered in the village of Gargara, in the Korez village commune in Dangara district in Tajikistan.
Japan and the UN Office on Drugs and Crime have launched a $9.4 million, two-year project across five Afghan provinces to help former poppy-growing families and expand drug prevention and treatment services.
For centuries, Lahore has been shaped by the people, cultures and empires that passed through it. Now, the Pakistani city is preparing to put that rich history before a wider regional audience.
Israel is ready to move Palestinians from Gaza as soon as the U.S. approves, the country’s Defence Minister Israel Katz has said. He told a conference hosted by Israeli newspaper Yedioth Ahronoth on Wednesday that there was “no real solution” for Gaza without migration.
Flights between Central Asia and Russia have faced widespread disruption, with aircraft diverted, turned back or cancelled amid restrictions in Russian airspace and conflicting claims from Moscow and Kyiv over aviation safety.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment