The National Agency for Perspective Projects (NAPP) issued order setting licenses fees for crypto asset circulation service providers Tuesday, the Ministry of Justice said.
The fees have been set in basic calculation units (1 BCU = 375 thousand soums):
- mining pool - 3,000 BCUs (1.125 billion soums);
- crypto store - 3,700 BCUs (1.3875 billion soums);
- crypto depository - 7,000 BCUs (2.625 billion soums);
- crypto exchange - 73,400 BCUs (27.525 billion soums).
The Agency has also approved the procedure for licensing crypto players, as well as the requirements for them in August 2022. A separate license must be issued for each of the 4 types of activities.
Service providers must host their servers in Uzbekistan, store information on payments and clients for five years, and comply with advertising regulations. There are also minimum threshold for the authorized capital of 5,000 BCUs (1.875 billion soums) for crypto exchanges.
In addition, monthly fees have been in effect for crypto players since September 2022. The last time their size changed was in June of this year, when the fee for crypto stores was raised to 185 BCUs (69.375 million soums), and for crypto exchanges - to 740 BCUs (277.5 million soums).
Uzbekistan ranks first in Central Asia and the Caucasus and 33rd in the world in the global crypto asset s index, according to a study by RISE Research. In 2023, 512.3 thousand Uzbek nationals owned crypto assets, and the turnover of service providers in the crypto industry stands at over $ 1 billion.
