Uzbekistan Issues First Cryptocurrency Mining License!

Historical Precedent: NexaGrid Officially Enters the Mining Market

Uzbekistan has taken a decisive step toward legalizing the extraction of digital assets. The National Agency for Perspective Projects (NAPP) has issued the country's first-ever cryptocurrency mining license. The permit was granted to a private company, NexaGrid, which plans to deploy its computing power in the Bukhara region.

NexaGrid was founded in Tashkent in April 2025 with a charter capital of 600 million soums. Co-founder Toymurod Sultonov confirmed that his company has become a pioneer in officially authorized cryptocurrency mining within the republic. This event marks the end of a long period of "inactivity," during which, as noted by NAPP Deputy Director Vyacheslav Pak, not a single legal mining farm had been registered in the country, despite established regulations being in place since the fall of 2023.

Strict Regulations: Requirements for Legal Miners

Obtaining a license in Uzbekistan is a process that demands high transparency and technical compliance. Companies are required to meet several strict criteria:
Energy Autonomy: The regulator strongly encourages the use of renewable energy sources, specifically solar panels.
Transaction Transparency: Miners are obligated to report on mined assets and the crypto addresses used.
Technical Audit: Applications must specify equipment characteristics, energy efficiency ratings, and detailed power supply agreements.

Legal Framework and Control: From QR Codes to Judicial Oversight

The licensing procedure in Uzbekistan is fully digitized. Following a successful review of the application, which takes up to 15 days, the regulator issues an electronic certificate with a secure QR code. The validity of such a license is five years. However, the law provides for severe sanctions for violations: suspension of activity for up to six months or full revocation of the license through court proceedings.

It is worth noting that the liberalization of mining is occurring alongside the development of a broader crypto ecosystem. Since the beginning of this year, a special legal regime has been in effect in the republic, allowing legal entities to issue tokenized shares and bonds, as well as use stablecoins for limited settlements.

Energy Security as a Priority

The NAPP pays special attention to the load on the power grid. When connecting to general grids, miners are required to install separate meters, allowing the state to monitor resource consumption and prevent electricity shortages in residential sectors.

Value for the Reader

The issuance of the first license to NexaGrid is a signal to international and local businesses that Uzbekistan is moving from a prohibitive policy to creating a regulated market. For potential investors and entrepreneurs, this means the opportunity to operate within a "white" legal field protected by law, provided that environmental and reporting standards are met. If you plan to conduct crypto business in the region, a focus on "green" energy and full reporting transparency will be your primary advantage in obtaining approval from the NAPP.