Uzbekistan legalizes solar-powered mining
The country's government invited miners to install solar panels to power their farms. Otherwise, cryptocurrency mining is subject to double electricity tariffs.
According to Reuters, Uzbekistan authorities will allow local miners to mine cryptocurrency using solar energy, as well as free all digital asset transactions made by domestic and foreign companies from income tax. The President has issued a relevant decree this week.
The country's authorities encourage miners to install solar panels to power their own farms. Cryptocurrency mining will be subject to double tariffs when connecting to the electrical power network. While during periods of peak energy consumption, miners will be charged additional fees.
According to the decree, cryptocurrency mining does not require a license, but the company must be registered by Uzbekistan's National Agency of Prospective Projects. Digital asset trading has been legalized in the country since 2018, but only on local platforms.
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