Uzbekistan launches tax-free crypto mining hub to attract foreign investment
Crypto Briefing
Uzbekistan established the tax-exempt Besqala Mining Valley to attract foreign crypto investment and promote renewable energy usage.Summary
Uzbekistan has launched the Besqala Mining Valley in Karakalpakstan, a regulated zone where crypto mining operations are exempt from taxes until January 1, 2035. Signed by President Shavkat Mirziyoyev, the initiative aims to boost foreign investment, job creation, and the adoption of renewable energy. While mining income is tax-exempt, operators must pay monthly fees and adhere to strict financial transparency and regulatory oversight. This move represents a strategic evolution in Uzbekistan's crypto policy, shifting from initial caution to a more competitive framework that incentivizes registered miners with electricity discounts, following lessons learned from neighboring Kazakhstan's experiences.
(Source：Crypto Briefing)