🤑 Uzbekistan looks to lure crypto exchanges with new tax benefits
The Uzbekistan government is welcoming cryptocurrency exchanges to set up shop within the country. An order issued by president Shavkat Mirziyoev on September 2 gives foreign exchanges a number of benefits to begin operating in the country. The document states that cryptocurrency-related income will not be taxed, licensed exchanges running operations with cryptocurrencies and foreign fiat currencies are not subject to existing foreign currency regulations, and crypto exchanges are not subject to the country's securities and exchanges regulations. However, foreign entities can only get a license for a cryptocurrency exchange after they open a subsidiary in Uzbekistan.
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