Uzbekistan will support the creation of cryptocurrency exchanges

The government issued a statement explaining the conditions to be met by these exchange houses

Through an official statement of the President of Uzbekistan, Shavkat Mirziyoev, it was announced that the cryptocurrency exchange companies will be welcome.

This document specifies several points that refer to the way the trade and business with digital currencies will be managed.

The influence of cryptocurrencies reaches an increasing number of countries, either becuase the perspective of issuing regulations or the possibility of its adoption to optimize national finances.

In this case, foreign exchanges must acquire a license, as well as comply with a series of regulations, among which are the need to have a capital of at least $ 700.000, adhere to the rules of anti-money laundering and carry an endorsement of transactions by at least five years.

On the other hand, the authorities also plan to boost mining activities by supporting them with a capacity of 100 kWh of electricity per plot.

On previous occasions the government of Uzbekistan has shown interest in adopting the use of cryptocurrencies and blockchain technology. In February, it announced financing plans for an innovation center in the capital, Tashkent.

K. Tovar

Source: Coincrispy

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