Not Crypto-Friendly Uzbekistan Enables Companies to Mine Bitcoin Using Solar Energy
You can’t purchase Bitcoin and cryptocurrencies in Uzbekistan but the government there is now going to allow mining if firms use solar energy
Uzbekistan Enables Companies to Mine Bitcoin Using Solar Energy
“The Central Asian country does not stand as a crypto-friendly destination. At the end of 2019, the authorities prohibited residents from purchasing digital assets while selling remained legal.
Nearly a year ago, the former Soviet republic contemplated a U-turn and lifting some of its restrictions. The government intended to allow Uzbeks to conduct “all types of crypto operations involving crypto assets and tokens in exchange for both domestic and foreign currency.”
However, according to current laws, Uzbeks are still prohibited from buying bitcoin or altcoins, while the legislation does not apply to foreigners.
A recent coverage by Reuters revealed that the government has now turned its focus toward the digital asset mining industry. The authorities have proposed that Uzbek miners should start powering their supercomputers with solar panels. Those who do so will pay less for electricity, while businesses connected to the power grid will pay double the regular price.”