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Crypto policy regulator established in Usbekistan
The decree on reorganization was signed by President of the Republic of Uzbekistan Shavkat Mirziyoyev. The new agency will be primarily aimed at the development and implementation of a crypto assets circulation policy, Gazeta.uz reports with reference to the Ministry of Justice of Uzbekistan.
The new tasks of the newly formed agency also include enforcement of the legitimate rights and interests of investors insofar it concerns the circulation of crypto assets, the development and participation in the implementation of measures to combat the legalization of proceeds from crime in the crypto assets circulation, initiation and assistance in promoting projects to implement DLT and other technology in the public administration and socio-economic sphere.
For legal entities implementing technologies in the field of crypto-currencies, a special regulatory regime is introduced in the field of crypto-assets circulation, the newspaper notes. So, those operating under the regime are exempt from all taxes and mandatory payments to state funds, customs charges (except customs duties) for importing devices, technical documentation and software for the regime participants’ needs. Employees of crypto asset companies operating under the special regime will pay personal income tax at a rate of 7.5% (instead of 12%), the newspaper reports.