On July 3rd, President of Uzbekistan Shavkat Mirziyoyev signed a decree on measures and methods to build a digital economy through blockchain technology and the cryptocurrency market. The statute includes mining, distribution, exchange, storage, distribution, management and consulting related to digital currency, and calls for the use of blockchain technology and smart contracts to encourage ICO. According to the document, the National Project Management Agency (NAPU) will be responsible for the implementation and development of digital economy-related initiatives and will decide to use Distributed Accounting (DLT) to manage relevant activity areas. Moreover, the business operations of legal entities and individuals using cryptocurrency do not require taxation, and the income of related transactions is not in the database of mandatory taxes.
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