Cryptocurrency exchange and mining pool will appear in Uzbekistan
Local media reported that the National Agency for Project Management under the President of the Republic of Uzbekistan is going to create a mining pool to combine the capacities of domestic and foreign miners. At the moment, the decision is being agreed between various government departments. The country's regulator made this decision in order to reduce the shadow market of miners and to increase the level of security in the field of cryptocurrency mining. In addition, registered miners will receive certain privileges, for example, revised electricity tariffs. In order for miners to be able to engage in transparent, in accordance with the law, sale of mined coins, the government plans to create Uznex cryptocurrency exchange. The project is currently under development and testing with the Korean company Kobea Group, and supports 7 trading pairs. Earlier, the media noted an ambiguous attitude to the cryptocurrency industry in Uzbekistan. In October 2019, authorities increased the cost of electricity for miners three times. And just a month later they said that they had a positive attitude towards the economic development of the country by supporting crypto, blockchain and mining spheres. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.