Uzbekistan established monthly fees to budget for cryptocompanies

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The Ministry of Justice of Uzbekistan has registered the law of the National Agency for Advanced Projects, according to which licensed cryptocurrency companies must pay fees to the budget. After registration by the Ministry of Justice of Uzbekistan, the law comes into force immediately. Now any companies licensed in the country working with cryptocurrencies must pay monthly fees to the budget.

At the same time, different categories of cryptocurrency firms have their own tariffs.

Cryptocurrency exchanges will have to pay the most – 120 million soums per month. At the current exchange rate, this is slightly less than $11,000. Cryptocurrency miners must pay $270 per month, cryptocurrency shops – $540, and mining pools – $2,700. Custodial services will pay the least – $135.

"Failure to pay the fee within one month is the basis for the suspension of the license. If the company does not pay the fee for two months during the year, the license may be canceled," the document says.

Interestingly, 20% of the total amount will be deducted by the NAAP, and the rest of the funds will go to the state budget. Recall that in the summer, the NAAP obliged miners to register and use solar energy to mine cryptocurrencies.

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