Uzbekistan announced the creation of a single national mining pool and the state cryptocurrency exchange.

The National Project Management Agency (NAPM), the government body under the President of Uzbekistan, has unveiled its plans for the development of the digital economy for 2020.

In order to increase the efficiency of electricity use, state control and ensure transparency of crypto mining, NAPM offers miners to consolidate production in a single center. Miners will be offered preferential electricity tariffs and the ability to sell cryptocurrencies on the country’s first licensed cryptocurrency exchange.

According to regulators, the national mining pool and managed crypto-exchange will help to remove Uzbek miners from the shadow economy and make the cryptocurrency market as transparent as possible.

Earlier, Uzbekistan legalized cryptocurrency operations and introduced mandatory licensing of crypto exchanges, which attracted many private miners and crypto enthusiasts to the country. To ensure that energy companies do not incur losses, NAPM decided to increase the tariffs for miners three times.

At the end of last year, the regulator also tightened the rules for cryptocurrency users and limited the trading of crypto assets on its territory, trying to take the crypto industry under full state control.

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