Uzbekistan is reportedly looking to launch its own national Mining cryptocurrencies and a cryptocurrency exchange to bring cryptominers out of the shadows and attract foreign investors.
As the news.bitcoin.com , the state body under the President of Uzbekistan, the National Project Management Agency (NAPM), at the conference announced its plans for cryptocurrency and blockchain this year.
The organization’s plans include launching a national mining pool to help consolidate the mining capacities of domestic and foreign miners in the country, and providing cryptocurrencies to help miners sell their digital assets.
Local news agencies report that the country is launching its national mining pool to increase the transparency and security of cryptocurrency miners, as well as make it more attractive to foreign investors. NAPM also claims the merger will improve energy efficiency.
The corresponding digital asset exchange, called Uznex , based in the country's capital Tashkent, and will be operated by the South Korean Kobea Group. It will launch next week, January 20th. It currently lists several trading pairs including ETH / BTC, ETH / BCH, and BTC / BCH. The trading platform's website is still in beta testing, but it already notes that users will be charged a withdrawal fee.
In December last year, an order was issued limiting the ability of Uzbek citizens to trade cryptocurrency, effectively limiting them to only licensed exchanges.
Another government decree tripled electricity prices for domestic cryptocurrency miners, completely reducing the profitability of their operations. This is provided that they did not move to the national mining pool, which would allow them to pay standard rates.
Vyacheslav Pak, deputy director of NAPM, said:
I think this will be one of the main measures to encourage participation in this pool.