Uzbekistan establishes Besqala Mining Valley, a special economic zone for cryptocurrency miners.

CoinFeed reported on April 22 that, according to Bits.media, Uzbek President Shavkat Mirziyoyev signed a decree establishing a special economic zone called "Besqala Mining Valley" in the Republic of Karakalpakstan, providing tax incentives for miners until January 1, 2035. The zone will be connected to an electricity system powered by renewable energy and hydrogen. Cryptocurrencies mined within the zone can be sold and exchanged through local Uzbek exchanges or overseas platforms. The National Projects Authority is responsible for issuing mining licenses, and companies must apply for residency status from the Besqala Mining Valley Authority. Uzbekistan stipulates that cryptocurrency transactions can only be conducted through licensed providers, require customer verification, P2P transactions are prohibited by law, and digital assets cannot be used as a means of payment.