• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12559.26
    • RUB160.17
    • EUR14413.01
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +37°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Uzbekistan

    Uzbekistan implements fines of over $4,000 against unauthorized crypto mining

    Uzbekistan implements fines of over $4,000 against unauthorized crypto mining

    Uzenergoinspektsiya in Uzbekistan has identified and taken action against unauthorized crypto mining activities in the Fergana region, the department's press service reported.

    Photo: Uzbekistan implements fines of over $4000 against unauthorized crypto mining
    Source: Spot

    The Fergana Farm Incident

    A mining operation was discovered in the Bogibuston mahalla of Uchkuprik district, where a citizen, identified as M.A., had illicitly connected installations to the general power grid. Preliminary estimates suggest damages of UZS 2.8bn ($227,269.84). This incident follows previous discoveries in Kokand, where a poultry shop housed an illegal mining farm, and another operation incurred an electricity bill of UZS 12bn ($974,013.60) in November.

    Regional Impact

    Unauthorized mining activities have not been isolated to Fergana. Incidents have been reported in Navoi, Tashkent, the capital region, Urgench, and the Uzun district of Surkhandarya. The government's efforts to address these occurrences aim to mitigate the impact on the power grid and regulate the cryptocurrency sector more effectively.

    Government Response

    President Shavkat Mirziyoyev signed a law in September, establishing fines for engaging in crypto-assets without proper registration. Mining without authorization now incurs a fine of 150 minimum wage  which is UZS 49.5mn ($4,017.81). The National Agency for Project Management (NAPP) approved a registration procedure for miners in October, contributing to the regulatory framework.

    Uzbekistan has gained acknowledgment as an attractive hub for cryptomining, thanks to its economical energy rates. The electricity cost is UZS 970 ($0.079) per kWh, resulting in a subsidy of UZS 135,000 ($10.96) per consumer with an average monthly power consumption of 200 kWh. This is in contrast to the worldwide average energy tariff of $0.19 per kWh.

    Earlier Daryo reported that Uzbekistan has moved to oversee and authorize cryptocurrency operations, granting licenses to various entities involved in the crypto space. The National Agency for Prospective Projects (NAPP) in Uzbekistan recently approved licenses for crypto exchanges, crypto depositories, and crypto stores, signifying a notable advancement in the nation's cryptocurrency industry.

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    06.12.2023, 10:35   Comments (0)   3105
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Secret crypto mine found in Kokand poultry shop: losses hit UZS 2.5 bn ($208,000)

    30.10.2023, 19:42

    Uzbekistan issues licenses to 14 cryptocurrency businesses 

    06.11.2023, 15:31

    NAPP oversees the operations of bookmakers in Uzbekistan 

    02.12.2023, 21:01

    Uzbekistan takes center stage as top global gold seller with 11 tons of export in October

    06.12.2023, 00:24

    Uzbekistan raises $7.4bn FDI in 9M23

    05.12.2023, 23:16

    Uzbekistan-Belarus Business Forum 2023: $100bn investment opportunities explored

    05.12.2023, 21:42
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Beeline Uzbekistan started 2025 with a significant network modernization


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp

     

    Recommended

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12

    “Uzbekistan is undergoing large-scale reforms and transformation,” says EU business leader at TIIF

    11 June, 08:34

    Central Bank warns half of monthly income goes to loans as debt burden rises in Uzbekistan

    3 June, 12:34
     
     
     

    Latest news

    Locusts sweep across 500,000 hectares in Uzbekistan as authorities intensify control measures

    Uzbekistan | 21 June, 12:32

    Uzbekistan's Kashkadarya region poised for $15bn growth as Mirziyoyev pushes reforms and investment

    Uzbekistan | 21 June, 10:36

    Kazakhstan boosts waste recycling from 1% to 25% in a decade, targets 40% by 2030

    Kazakhstan | 20 June, 15:30

    Uzatom, Rosatom sign agreement to explore feasibility of high-capacity nuclear plant in Uzbekistan

    Uzbekistan | 20 June, 14:36

    Uzbekistan signs $68mn in export contracts at Turkic States Trade Forum in Baku

    Uzbekistan | 20 June, 12:34

    Brilliant minds of Uzbekistan: How one woman from Tashkent is shaping the future of legal AI - interview with Malika Khikmatillaeva

    Uzbekistan | 20 June, 11:00

    Uzbekistan fines 13 banks in May amid heightened regulatory scrutiny

    Uzbekistan | 20 June, 10:30

    President Mirziyoyev visits Uzbekistan’s newly built $1.5mn hydropower power plant in Hisorak

    Uzbekistan | 20 June, 09:06

    Kazakhstan’s Magnum exits Uzbekistan after 3.5 years in market

    Uzbekistan | 19 June, 17:31
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.