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DOMAINS TOKEN-G

Ronald Maguire

10 May 2022 149 Read Crypto , Bitcoin

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Uzbekistan Offers Tax Cuts to Encourage Cryptocurrency Miners to Use Renewable Energy

The government of Uzbekistan has introduced tax cuts and cheaper energy taxes for cryptocurrency miners who buy solar panels for mining purposes. The government has announced the news of lower electricity rates and taxes.

Miners Not Using Renewable Energy Will Pay High Taxes

The country is legalizing solar cryptocurrency mining and is giving miners who install their own solar panels a new federal tax exemption. The new energy regulations also imposed higher electricity rates for miners who did not switch to the renewable energy alternative.

The ban on cryptocurrency mining in China has caused several cryptocurrency mining companies to relocate to other countries with less strict cryptocurrency mining laws.

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