Uznex becomes the first licensed crypto exchange in Uzbekistan.

Uznex became the first-ever crypto exchange in Uzbekistan to receive a regulatory license. Uznex is operated by the Korean company Kobea group.

Uznex’s launch was announced on 20 Jan during an opening ceremony in Tashkent, where the Korean Culture Center hosted an international blockchain conference. The Uzbekistan government is also preparing a draft to exempt income from cryptocurrencies from taxation. The country is also planning to establish a “national mining pool” for all private miners.

 

Uzbekistan citizens only allowed to sell cryptocurrencies on Uznex.

Earlier, the Uzbekistan government announced that citizens would not be allowed to buy cryptocurrencies from licensed exchanges. Crypto holders in the country are only allowed to sell coins that, too, if they have not been obtained through anonymous transactions. But foreign companies and nationals residing in Uzbekistan will have full access to its services within the framework of the country’s legislation.

 

Crypto incomes to get an exemption from taxation.

After legalizing crypto trading, Uzbekistan prepares to exempt income obtained in cryptocurrencies from taxation. The proposed draft reads, “operations of legal entities and individuals related to the circulation of crypto assets, including those carried out by non-residents, are not subjected to taxation, and income received from these operations is not included in the tax base for taxes and other obligatory payments.” The government officials are also planning to establish a national mining pool for all private miners who will have to more price for electricity than other businesses.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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