Uzbekistan imposes a monthly tax for crypto companies
The authorities have set several levels of the basic estimated value for different types of activities
30.09.2022 - 12:40
283
2 min
0
What’s new? Authorities in Uzbekistan have set the amount of monthly fees for cryptocurrency companies, Podrobno.uz reports, citing data from the Ministry of Justice. According to the law, taxes are set for legal entities engaged in cryptocurrency mining activities, as well as providing provider services in the field of digital assets.
Information on the Podrobno.uz website
How was the initiative developed? The authorities have set several levels of the basic estimated value (BEV) for different types of activities:
- for miners — 10-fold the size of BEV (3 million Uzbek soums (UZS)
- for crypto exchanges — 400-fold the size of BEV (120 million UZS)
- for mining pools — 100-fold the size of BEV (30 million UZS)
- for crypto depositories — 5-fold the size of BEV (1,5 million UZS)
- for the crypto store — 20-fold the size of BEV (6 million UZS).
BEV is an indicator, which is used in determining the amount of taxes, fees, duties, fines, and payments for state services.
Miners and service providers are required to pay monthly fees from the date of obtaining a license or permit.
Earlier, the National Agency of Perspective Projects of the Republic of Uzbekistan (NAPP) restricted access to unlicensed cryptocurrency exchanges and exchangers, including foreign platforms. The regulator noted that such companies are not legally liable and cannot guarantee the legitimacy of transactions. The NAPP submitted a document containing the basic requirements and rules for miners. Only legal entities will be able to mine cryptocurrencies in the country, green electricity obtained with solar photovoltaic stations should be used during the operation.
Useful material?
Market
The USDT issuer responded by saying that the report lacked sufficient data to support such claims
May 10, 2024
Incidents
The breach was reported to Binance by the head of its monitoring department, who was later fired
May 9, 2024
Trends
In April, the project’s launch on the crypto exchange was postponed twice
May 9, 2024
Incidents
Users were urged to withdraw funds before the site was completely shut down on November 7
May 8, 2024
Market
The outflow persists for four weeks
May 7, 2024
Market
The assets were valued at $630 000 at the time of receipt
May 6, 2024