President of Uzbekistan issues decree regulating cryptocurrencies

Home / President of Uzbekistan issues decree regulating cryptocurrencies

Uzbek President Shavkat Mirziyoyev issued a new decree that will regulate the cryptocurrency industry.
Issued on April 27, the decree mandates the reorganization of a major presidential agency known as the National Agency for Project Management (NAPU).

According to the decree, NAPU will be reorganized into a new entity called the National Advanced Projects Agency (NAPP), responsible for a wide range of tasks related to cryptocurrency regulation.
The agency is charged with developing and adopting a unified state policy on cryptocurrency, as well as protecting investors and taking measures to combat illegal activities.
The regulator will also initiate and promote blockchain projects and other new technologies in public administration and socioeconomic sectors.
According to the decree, the agency can set legal conditions for cryptocurrency organizations. The new agency will also be responsible for licensing and regulating virtual asset service providers.

Income from salaries by participants of the cryptocurrency industry will be subject to personal income tax at a fixed rate of 7.5%.

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