Uzbekistan Exempts Mining Income from Tax Until 2035 with New Initiative

Uzbekistan has introduced the Besqala Mining Valley in Karakalpakstan, offering a tax exemption on mining income until 2035. According to NS3.AI, the initiative allows residents to utilize renewable energy sources for cryptocurrency mining. Mined cryptocurrencies can be sold on both local and international exchanges, with the stipulation that sale proceeds are transferred to banks within Uzbekistan. This regime is exclusively available to legal entities that are registered and operating in Karakalpakstan.