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Uzbekistan creates state-backed crypto mining zone with tax breaks

Uzbekistan creates state-backed crypto mining zone with tax breaks

Uzbekistan has established a state-backed crypto mining zone in Karakalpakstan, offering tax breaks to attract miners. The zone allows foreign sales of mined cryptocurrencies, but proceeds must be processed through local bank accounts. This move aims to boost the country's crypto industry and attract international investment, marking a significant step in Uzbekistan's blockchain development efforts.

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