Uzbekistan is going to legalize Bitcoin

Uzbekistan has decided to legalize Bitcoin. In accordance with a presidential decree, an act to regulate the digital currency should be developed by the end of the summer. The countries of central Asia also plans to open a center for technology-financial decentralized. Expenses related to mining operations in Uzbekistan are among the lowest in the world. The country is a producer of electricity.

Source : Pixabay. Uzbekistan is in the process of legalizing Bitcoin.

A draft law will be adopted by Uzbekistan

A new decree signed by the president Shavkat Mirziyoyev stipulates that the institutions of Uzbekistan should finalize a draft law to regulate the digital currency, by 1 September. The central Bank, the ministry of information Technologies and Communications and the ministry of Economy were responsible for preparing this draft law, reported Vzglyad.

Check out below the details of this announcement in English :

The president of the country has also directed the respective authorities to create a special center for technology financial. His main responsibility will be to create favourable conditions for the use of technology Blockchain. The new department will work to improve the qualifications and to support local developers in the mastery of technology. The centre will be open on June 1, 2018. M. Mirziyoyev has also called for the development and promotion of payments decentralized. A set of measures to achieve this objective is also planned for June.

A major step forward for the country

The presidential decree represents a change of course positive in regards to crypto-currencies, such as Bitcoin. The representatives of the central Bank of the country have qualified in the past, digital currencies and instruments of financing of terrorism. This position is going to change with the decision of the president.

Recently, the Prime minister Abdulla Aripov has supported the use of technology Blockchain. The latter has participated in the forum ” The digital agenda in the era of globalization “, which brought together representatives of the commonwealth of independent States (CIS) and the eurasian economic Community (EEC).

Source : NewsBitcoin