Uzbekistan has for the first time issued a permit to mine cryptocurrency in its territory, entering the region’s expanding coin minting market.
The move puts an end to months of uncertainty, the newly licensed miner said, promising to “build the infrastructure of the future” in the country.
Uzbekistan greenlights its first legal crypto mining project
The Central Asian nation of Uzbekistan has issued its first permit for cryptocurrency mining to a private company, which plans to base its operations in the southwest Bukhara region.
The mining firm, NexaGrid, has received the official authorization from the National Agency of Perspective Projects (NAPP) this week, local media reported late Friday.
The government body, which is directly subordinated to Uzbek President Shavkat Mirziyoyev’s administration, is tasked with enforcing crypto regulations and licensing.
The Tashkent-registered company was established in April 2025, with a statutory capital of 600 million Uzbekistani sums (around $50,000).
In comments quoted by the news outlets Spot and UZ Daily, one of its two founders, Toymurod Sultonov, emphasized that his entity received the permit in a transparent procedure.
In a celebratory post on the professional social network LinkedIn, the former civil servant and textile marketing analyst, turned crypto entrepreneur, also stressed:
Private company to pioneer crypto mining in Uzbekistan
Sultonov, who has 63% of Uzbekistan’s first licensed mining business, will be managing the enterprise, which will be set up in the Romitan district, with the help of his partner, Makhmudjon Rozimurodov, who owns 37% of its stock.
Commenting further on the positive development, the new crypto executive also noted:
The move is a significant step for Uzbekistan, which joins Central Asia’s growing crypto mining sector late and needs to catch up with some of its neighbors like Kazakhstan, Kyrgyzstan, and Turkmenistan.
It has been more than two years since the NAPP adopted rules for issuing permits for digital currency mining in the fall of 2023. As per a report by its deputy head, Vyacheslav Pak, there were no legal crypto farms registered in the country in the years that followed.
According to the regulations, legal entities can apply for authorization, provided they have a dedicated mining site that complies with safety standards.
Companies are encouraged to use power generated by their own photovoltaic installations, and when they connect to the public grid, a separate meter must be installed.
Miners are required to thoroughly inform the NAPP about all their activities and file transaction reports. Hidden mining and the minting of anonymous crypto assets are strictly prohibited.
Their license applications must provide detailed information about the solar power plant and any electricity supply agreements, the technical specifications of the mining hardware, including its energy rating, as well as a list of the cryptocurrencies that will be minted and the addresses of the crypto wallets used.
Submission of incomplete data and non-compliance with other relevant regulations may result in rejection of the application if the deficiencies are not corrected within a month after they have been established by Uzbek officials.
Following a 15-day fee-free review process, permits are issued in the form of electronic certificates with QR codes. The licenses are valid for a period of five years, but can be suspended in case of violations for up to six months and even revoked by court order.
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Source: https://www.cryptopolitan.com/uzbekistan-issues-first-crypto-mining-permit/
