The National Office for Potential Projects (NAPP) in Uzbekistan has announced its requirements for the settlement of mining companies. Accordingly, Bitcoin (BTC) and other cryptocurrencies may only be mined using solar energy in the future.
According to an official government website, the “requirements for the mining of cryptocurrencies” will finally come into force on July 9. It states clearly and clearly:
“In the future, mining will only be operated by approved organizations using solar energy.“
To make matters worse for the mining industry, the required photovoltaic systems must be purchased and operated by the mining companies themselves.
In addition, all companies must obtain an authorization and register in a national commercial register for miners. After all, this process should be as unbureaucratic as possible and should not take more than 20 days from the application to the approval. However, the permits would only be valid for 1 year at a time.
The NAPP, which was newly established in April, is now the leading authority for the regulation of the crypto industry in Uzbekistan. The triggers for this are several initiatives by President Shavkat Mirziyoyev, who has been wanting to create a legal framework for cryptocurrencies in his country for a long time. However, Mirziyoyev is taking a rather conservative approach, as can be seen from the new provisions, for example, in September 2018 he had already passed a law that banned Uzbek companies from opening crypto exchanges. Only international companies are allowed to do this.
