2026-04-21 10:41:51
Uzbekistan Establishes Besqala Mining Valley with Tax Exemption Until 2035
Uzbekistan creates Besqala Mining Valley SEZ to lure crypto miners with tax breaks till 2035, guaranteed grid access, and licenses from NAPP amid growing regional competition.
Abstract: President Shavkat Mirziyoyev issued a decree establishing the Besqala Mining Valley, a special economic zone in Karakalpakstan designed to attract cryptocurrency miners. The zone offers income tax exemption through January 1, 2035 and other incentives, and guarantees access to Uzbekistan's unified power grid supported by renewable energy and hydrogen plants. Miners may sell mined assets on domestic and international platforms, subject to licensing by the National Agency for Prospective Projects (NAPP) and zone directorate applications. The move follows Uzbekistan issuing its first mining permit in February 2026 to NexaGrid in Bukhara after regulatory uncertainty, and comes as the country faces regional competition as Kazakhstan, Kyrgyzstan, Turkmenistan adjust crypto policies and Uzbekistan contemplates stablecoins for settlements this year.