Uzbekistan, a democratic republic in central Asia, is reportedly looking to encourage cryptocurrency exchanges to set up their operations within its borders. A government order issued on September 2nd noted that cryptocurrency transactions in Uzbekistan will not be taxed. However, exchanges are required to comply with anti-money laundering and KYC requirements and must have a starting capital of at least $700,000. Special incentives for industrial miners include being able to easily acquire land for their operations.
