The cryptocurrency industry has suddenly become of great interest to a lot of countries. So much even that Uzbekistan now wants to legalize crypto mining through a nationalized venture.<\/p>\n
It is the first time the government of Uzbekistan introduces such a bold venture.<\/p>\n
Their vision is quite simple to explain.<\/p>\n
Rather than prohibiting crypto activity in the country, the government of Uzbekistan aims to legalize cryptocurrency, primarily the mining aspect.<\/p>\n
This will be done through a national mining pool, as well as a national digital asset exchange.<\/p>\n
This proposal was put forward by the National Agency for project Management, or NAPM.<\/p>\n
There will be benefits for people who use the nationalized mining pool.<\/p>\n
They will allegedly be able to obtain electricity at a discounted rate.<\/p>\n
It is very similar to how some countries provide government-subsidized electricity in certain regions.<\/p>\n
Where the electricity will come from exactly, remains unclear at this time.<\/p>\n
Regarding the digital asset exchange, it will be designed primarily for the miners themselves.<\/p>\n
Through this platform, they can sell any coins they minted and want to convert to local fiat currency.<\/p>\n
It is expected that this trading platform will launch as early as next week under the Uznex banner.<\/p>\n
All of these changes can have a prominent impact on the cryptocurrency industry across Uzbekistan.<\/p>\n
Image(s): Shutterstock.com<\/p>\n
<\/p>\n