Uzbekistan Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Key Regulator(s)

Ministry of Justice No, National Agency for Perspective Projects

Primary Legislation

On approval of the Regulation on the procedure for licensing the activities of service providers in the field of circulation of crypto-assets, On the Regulation of Virtual Asset Turnover, You might find summaries or references to this decree on NAPP's news section or

Travel Rule

Not adopted

Tax Reporting

Gains obtained by individuals and legal entities from transactions with virtual assets are not subject to capital gains tax. This applies specifically to transactions conducted through virtual asset service providers licensed by NAPP in Uzbekistan.. Exempt for direct virtual asset transactions.. For Individuals: Income received by individuals from transactions with virtual assets (e.g., selling crypto for fiat or other crypto, mining income if directly held) is exempt from personal income tax, provided these transactions are carried out through licensed virtual asset service providers.. For Businesses (Licensed Virtual Asset Service Providers): While the transactions themselves are exempt for users, licensed virtual asset service providers (e.g., crypto exchanges, mining pools, crypto stores) are treated as regular business entities. Their profits derived from their operational activities (e.g., fees charged for services, spreads, commissions) are generally subject to corporate income tax and other applicable business taxes under the general tax code of Uzbekistan. The exemption applies to the virtual asset transactions for their clients, not to the service providers' business profits.. Uzbekistan's standard corporate income tax rate is generally 15%.

Key Facts

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