Uzbekistan Introduces Monthly Fees for Cryptocurrency Companies – Regulation Bitcoin News

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Uzbekistan imposes monthly fees on licensed crypto companies.

Crypto firms in Uzbekistan will have to pay fees to the state under new legislation proposed by regulators. The charges vary depending on the business activity and can reach $11,000 a month in the case of digital asset exchanges. Failure to pay will result in license suspension.Authorities in Uzbekistan have adopted awhich obliges entities working with cryptocurrencies to make special contributions to the state budget.

Crypto exchanges, for example, will be charged the highest tariff of 120 million Uzbekistani soum while cryptocurrency stores will pay around $540, the Russian crypto news outlet Bits.media detailed in a report. “Failure to pay the fee within one month constitutes grounds for suspension of the license. If the company does not pay the fee for two months within a year, the license may be canceled,” according to one of the law’s provisions. The NAPP will deduct 20% of each payment and the rest will go to the government coffers.

 

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According to the bill authored by the National Agency of Perspective Projects (NAPP) under the President of Uzbekistan, licensed crypto companies will have to pay the charges each month.

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Well as long as they don't have much regulations, fees are a little thing to pay.

It’s still better to change fiat to USDT tho

Good government decision 🔥

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This is a good thing IMO. The more the Gov sees revenue from crypto, the less likely they will be to try and regulate crypto into oblivion.

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Whyy is everyonee silent about thiss?

Why you not talking aboout this!.

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