Altcoin News: In Uzbekistan, Electricity Tariffs for Miners Tripled

September 30, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Government of the Republic of Uzbekistan ordered to increase tariffs for electricity consumed by crypto mining companies by 300%.

The Cabinet of Ministers of Uzbekistan made a decision in accordance with the decree of the President of the country dated August 22, 2019, No. PP-4422.

“On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources”

The initiative is aimed at further stimulating energy conservation, increasing energy efficiency in economic and social sectors, as well as rational use of electricity by consumers. The decision states:

“Consumers, regardless of the connected capacity, carrying out activities on crypto assets, including mining, pay for electric energy using an increase factor of 3.0 times the established tariff of the corresponding tariff group.”

Note that the authorities of Uzbekistan are quite positive about blockchain technology. So, in March of this year, the Ministry of Innovative Development of Uzbekistan and the national payment system of the country Uzcard announced the creation of a unified electronic block accounting system for car accounting.

Author: Marko Vidrih