Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The National Agency for Project Management of Uzbekistan (NAPM) has granted permission for cryptocurrency mining to the private firm NexaGrid, which intends to establish its operations in the southwest region of Bukhara.
NexaGrid was registered in Tashkent in April 2025 with a charter capital of 600 million Uzbek soums (approximately $50,000). Co-founder of NexaGrid, Toimurad Sultonov, stated that his company is the first to receive authorization for cryptocurrency mining within Uzbekistan.
NAPM approved the licensing regulations for crypto mining in the autumn of 2023. According to NAPM Deputy Head Vyacheslav Pak, there have been no registered legal mining farms in the country since then. Under the regulations, legal entities can apply for a license if they possess a mining site that meets safety standards. Companies are encouraged to utilize electricity from their own solar panels. If miners connect to the public power grid, they must install a separate meter. Miners are required to regularly report their activities to NAPM and provide transaction documentation.
Related Posts
The license application must include details about any electricity supply agreements, technical specifications of the mining equipment, including energy ratings. It is necessary to provide cryptocurrency addresses and a list of cryptocurrencies the company intends to mine. If incomplete information is submitted or regulations are not followed, the regulator may reject the application—unless the applicant rectifies the deficiencies within a month of their identification.
The regulator has 15 days to review the application. If approved, the regulator issues a permit in the form of an electronic certificate with a QR code. The license is valid for five years; however, in cases of violations, it may be suspended for up to six months or even revoked by court order.
Since the beginning of the year, a special legal regime has been implemented in Uzbekistan, allowing the limited use of stablecoins for transactions. Registered legal entities in the republic have gained the right to issue tokenized shares and bonds.
