The National Agency for Prospective Projects (NAPP) in Uzbekistan has passed laws that will regulate the operation of bitcoin mines. The nation will only authorise solar-powered firms to do so in Bitcoin and other cryptocurrencies.
On June 24, the government released a common action addressing the adoption of “guidelines for the registration of mineral crypto assets.” Its completion date is July 9, officially.
According to the document, only one legal entity used solar-powered photovoltaic power to mine. The organisation added that mining companies need to have a photovoltaic power plant that can generate electricity.
The executive order also authorises miners to register with the national cryptocurrency mining business register and obtain the required certificates. The crypto miner will need to provide a number of documents during the registration process. The agency will make its final decision in 20 days or less. Purchased certificates are valid throughout the year.
There will be no taxes on the revenue generated by these mining activities. However, certain costs based on energy use will be charged by mining businesses. Trading in these minerals, however, will take place on an official exchange exchange in Uzbekistan. NAPP prohibits the mining of anonymous coins.
NAPP was elected by Uzbekistan as the sole cryptocurrency regulator in April this year. The aim of the organisation is to provide a unique cryptocurrency regulatory framework in Uzbekistan.
Shavkat Mirziyoyev, president of Uzbekistan, has begun a number of steps to regulate the nation’s cryptocurrency sector. Local businesses were barred by the president from initiating cryptocurrency trading in the nation in September 2018. Only foreign trade activities are authorised by presidential law.
Read more:New president of Colombia favours mining bitcoin using renewable resources instead of cocaine
 in Uzbekistan has passed laws that will regulate the operation){kind=link}