Uzbekistan Prepares Crypto Tax Exemptions, Launches Licensed Exchange

A new presidential decree in Uzbekistan envisages the introduction of tax exemptions for income obtained from operations involving crypto assets. The draft document published recently also incorporates proposals for the establishment of a blockchain valley and licensing regime for cryptocurrency miners. The country has just launched its first licensed crypto exchange.

Also read: Uzbekistan to Create National Mining Pool, Launch Licensed Exchange

Tax Free Crypto Operations

The Central Asian Republic of Uzbekistan legalized cryptocurrency trading and introduced licensing for crypto exchanges with a decree signed by President Shavkat Mirziyoyev in the fall of 2018. An earlier decree issued by the head of state in the summer of that year laid the legal grounds for other related activities in order to develop the country’s digital economy.

Uzbekistan now prepares to exempt income obtained in cryptocurrency operations from taxation. A draft-decree…