Uzbekistan Issues First Legal Cryptocurrency Mining License

Uzbekistan has taken a significant step into the digital asset space by issuing its first license for cryptocurrency mining. The move, granted to private company NexaGrid, signals a shift in the country’s approach to the burgeoning industry and aims to establish a transparent and sustainable technological foundation.

NexaGrid Receives Landmark Approval

The National Agency for Perspective Projects (NAPP) officially granted the license to NexaGrid on January 19, 2026, as documented in the agency’s electronic registry [UzDaily]. The company, registered in Tashkent in April 2025 with a charter capital of 600 million Uzbek soums (approximately $50,000), will establish its mining operations in the Romitan district of the Bukhara region [UzDaily].

A Vision for Central Asia’s Digital Future

NexaGrid is led by CEO Toimurod Sultonov, who holds a 63% stake in the company, alongside partner Mahmudjon Rozimurodov with a 37% stake [UzDaily]. Sultonov, a former civil servant and textile marketing analyst, emphasized the long-term vision behind the project. He stated that NexaGrid was conceived not as a short-term profit venture, but as an “infrastructure platform for the future of Central Asia” [UzDaily]. He further expressed on LinkedIn that the license represents “a small victory” but a significant step towards building a digital economy in the region [UzDaily].

Uzbekistan’s Regulatory Framework for Cryptocurrency

Uzbekistan has been developing a regulatory framework for digital assets, with NAPP playing a central role in licensing and oversight [Lightspark]. Regulations adopted in 2023 mandate that cryptocurrency transactions be conducted through licensed domestic Virtual Asset Service Providers (VASPs), prohibiting the use of foreign exchanges [Lightspark]. The country likewise regulates mining and token issuance, with a focus on anti-money laundering compliance [Lightspark].

Licensing Requirements and Oversight

To obtain a mining permit, entities must demonstrate a dedicated mining site that meets safety standards [UzDaily]. The use of electricity generated from renewable sources, such as solar power plants, is encouraged and separate meters are required for grid connections [UzDaily]. Applicants must provide detailed information about their power supply, mining hardware specifications, and the cryptocurrency to be mined [UzDaily]. The licensing process includes a 15-day screening period, resulting in a five-year permit with potential suspension or revocation for violations [UzDaily].

Catching Up with Regional Neighbors

This development positions Uzbekistan to compete with neighboring countries like Kazakhstan, Kyrgyzstan, and Turkmenistan in the cryptocurrency mining sector [UzDaily]. Prior to NexaGrid’s approval, no legally registered cryptocurrency mining farms operated within the country, despite regulations being in place since late 2023 [UzDaily].

Uzbekistan’s entry into the regulated cryptocurrency mining space marks a significant step towards embracing the digital economy and fostering technological innovation in Central Asia [Bitget].