Establishing a “national mining pool” has been declared a priority in Uzbekistan. Miners who join the pool will enjoy lower electricity rates, announced the country’s agency overseeing the crypto industry. The Central Asian nation is also preparing to launch a licensed cryptocurrency exchange, where miners will be able to sell the coins they have minted.
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Consolidating Crypto Mining Power
The National Agency for Project Management (NAPM), a government body under the President of Uzbekistan, revealed this week its 2020 plans for the regulation of crypto trading and the implementation of blockchain technologies. During a press conference on Monday, the agency stated that the proposed mining pool will help consolidate the capacities of domestic and foreign miners at the national level.
The main motivation behind the agency’s decision is to ensure the economic efficiency and increase the transparency and security of cryptocurrency mining in the country, the local…