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Crypto currency - it is a type of digital currency, the accounting of which is provided by a decentralized payment system (there is no internal or external administrator or its analogues), works in a fully automatic mode. By itself, there is no special material or electronic form in cryptocurrency - a number that indicates the amount of data in the accounting units, which is recorded in the appropriate state of the data package of the data transfer protocol. Even all information about transactions between system addresses is encrypted like any other data. Cryptocurrency is often used to hide illicit funds.
The total number of cryptocurrencies to date 4509 and their total market value $ 1 trillion 633 billion 366 million 781 thousand The average daily turnover is $ 153 billion 166 million is equal to
The first and most popular cryptocurrency with the largest market capitalization is Bitcoin (BTC), which was first issued on January 2009, 3. 2021 BTC as of February 1 $57500 exceeded and is actively rising. Total capitalization of Bitcoin $ 982,93 billion is its daily turnover $ 54,38 billion forms.
Is it possible to buy cryptocurrency in Uzbekistan? Can I use it?
All crypto-assets in Uzbekistan must be licensed and operated on a crypto-exchange opened in early 2020. Exchange participants can only sell previously acquired crypto-assets to foreign users.
It is not possible to buy crypto-assets on the stock exchange - the organizers explained this by the low financial literacy of the population. It is a crime to trade bypassing a crypto-exchange.
Tariffs are available, legalization is not.
Because purchases are prohibited, cryptocurrencies can only be acquired through ‘may’. In the spring of 2020, an electricity tax was introduced in the increased tariffs for miners.
However, no procedure has been developed to identify consumers engaged in mining and to apply increased tariffs.
The legalization of May's activities was supposed to be based on the creation of the Uzbekistan Cryptocurrency Mining Pool program as part of compulsory membership, but the relevant documents have not yet been adopted.
What is the penalty for trading cryptocurrency?
Article 177: Unlawful receipt or transfer of currency values. Based on this, 75 times the basic calculation amount (18 million 375 thousand soums) and 500 times (122 million 500 thousand soums) or up to two to three years of correctional labor or up to one year of restriction of liberty or up to five years of imprisonment.
Article 190: Engaging in activities without a license. Based on this, 25 times the basic calculation amount (6 million 125 thousand soums) and 100 times (24 million 500 thousand soums) or up to five years of deprivation of certain rights or up to 480 hours of compulsory community service.
For example, in the summer of 2020, criminal proceedings were instituted against citizens engaged in bitcoin trading in Tashkent under Articles 177 (illegal sale or purchase of foreign currency) and 190 (engaging in unlicensed activities) of the Criminal Code. was thrown. In the fall of that year, individuals involved in bitcoin trading in the capital were arrested.
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