Uzbekistan will be participated in the licensing of the stock exchange and advancement of the blockchain

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On 3 July the President of Uzbekistan Shavkat Mirziyoev, signed a resolution “On steps for advancement of digital economy in the Republic of Uzbekistan”, media reported. We are talking about three locations of development.First of all,”October 1,

2018, the order where the activities in the field of trafficking scriptaction, consisting of the establishment of kryptomere trade crypto-currency topic to licensing “. The proficient authority for licensing of cryptocurrency trading designated National Firm job management office(NAPA )under the President of Uzbekistan.The decree specifies that”cryptocurrency transactions carried out by persons certified, is not subject to the provisions of the law on currency policy “: operations with a turnover of cryptocurrency will not be taxed, and the profits included in the taxable base.Second, the Regulation provides that NAPA will receive a share in the Charter Fund of the Directorate Innovation centre to support the advancement and application of info innovation, Mirzo Ulugbek Innovation Center, and within three months, the business “Uzbekenergo “and” Uzbekgidroingeo”will propose the launch of a pilot task of mining.Finally, the NAPA and the Ministry for advancement of info innovations and communications commissioned in 2018-2020 to carry out a program on advancement of blockchain in Uzbekistan. In the framework of this program attends to the introduction from 1 January 2021 of the blockchain in the work of state bodies, public procurement, government services, verification of details about the individual; the conduct of public registers, classifiers and other databases; the system of business management of large industrial companies with the state share in the Charter; in clearing operation, while paying, trade Finance, and credit system.In General, NAPA and the Ministry for development of details technologies was commissioned prior to January 1, to prepare

a draft law “On digital economy and blockchain technologies.”These agencies ought to specify”the basic ideas in the field of blockchain innovation and its functioning concepts; the powers of state bodies and actors in the field of blockchain; to offer penalties in the case of utilizing this innovation for unlawful functions”. They prescribed a two-month due date to make”regulations on the procedure of licensing of activities for scriptactive”and”proposals for changes and additions to legislation developing from this decree”. Signed by the President of Uzbekistan, the resolution depends on the summary of its policy reforms. The nation needs modification, and the transition to a digital economy might be an important action in this direction.Source