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Crypto · Taxes

Crypto Tax in Uzbekistan in 2026: 0%, but Only Until 2029

Crypto asset transactions in Uzbekistan are not taxed — but only until 1 January 2029. What exactly is exempt, which fees and duties denominated in BCV remain, whether income has to be declared, and what you face for trading outside licensed platforms.

· 7 min read · Sogdium Editorial
A matte coin on a stack of tax documents and a desk calendar — illustration for an article on cryptocurrency tax in Uzbekistan

In brief: in Uzbekistan, crypto asset transactions by individuals and legal entities are not subject to taxation, and income from them is not included in the taxable base — and this rule applies until 1 January 2029. There is no separate "crypto tax" rate — neither personal income tax (NDFL) on selling bitcoin, nor profit tax on exchange rate gains. But "zero tax" does not mean "zero payments": platforms pay monthly fees denominated in base calculation values (BCV), miners pay a fee and a double electricity tariff, and residents of the zone in Karakalpakstan hand over 1% of income to the zone's directorate.

What exactly is exempt from tax

The rule is written into paragraph 2 of Presidential Resolution PQ-3832 "On measures for the development of the digital economy and the crypto asset market" of 3 July 2018:

"for a period until 1 January 2029, transactions of legal entities and individuals relating to the circulation of crypto assets… are not objects of taxation, and income… is not included in the taxable base" (translated from Russian)

— PQ-3832, para. 2, lex.uz

NAPP (the National Agency of Perspective Projects) adds in its "Frequently asked questions" section that the exemption covers transactions "including those carried out by non-residents" (napp.uz); the same is established for exchange transactions by PQ-3926 of 2 September 2018 (lex.uz). An adjacent piece of the same framework is the HUMO stable token pilot.

Neither buying and holding, nor selling at a profit for soums, nor swapping one asset for another, nor a sale by a non-resident on a licensed exchange creates a tax liability. How does this differ from "no taxes at all"? The exemption is tied to the circulation of crypto assets, not to the person: it does not cancel personal income tax on wages, property taxes or an entrepreneur's ordinary obligations — nor the non-tax payments described below. The Tax Code contains no special regime for crypto assets: both PF-140 and PQ-143 instructed the government to amend the Tax Code, but we found no corresponding articles.

Until what date the break applies and what comes next

Originally PQ-3832 set no deadline: the words "for a period until 1 January 2029" were added by Presidential Decree PF-140 of 18 September 2024 (in force since 19 September 2024). The same document instructed the Ministry of Economy and Finance to submit draft amendments to the Tax Code (lex.uz) — that instruction has produced no public result.

Only a new presidential act can extend the break, and no such draft is publicly available. If the rule is not extended, from 1 January 2029 income will be assessed under the general rules of the Tax Code.

Which payments arise anyway

Monthly activity fees — Regulation No. 3388 of 28 September 2022 (as amended on 20 June 2024 and 29 July 2026): paid in advance by the 10th of the month, 80% to the budget and 20% to NAPP (lex.uz):

Market participantMonthly fee, BCVIn soums at a BCV of 440,000
Crypto exchange740325.6 million soums
Crypto store18581.4 million soums
Mining pool10044 million soums
Miner104.4 million soums
Crypto depository52.2 million soums

The state duty for issuing a license — a NAPP order registered with the Ministry of Justice on 17 December 2024 under No. 3584, in force since 18 December 2024 (record on lex.uz). The amounts, per reports by norma.uz and gazeta.uz of 18 December 2024: exchange — 73,400 BCV, depository — 7,000 BCV, store — 3,700 BCV, mining pool — 3,000 BCV. The duty is calculated using the BCV in force at the time of filing: today an exchange license would cost roughly 32.3 billion soums ($2.7 million at the Central Bank rate on 17 September 2026), plus capital of 5,000 BCV (2.2 billion soums) under NAPP Regulation No. 3380.

Two more payments that are usually overlooked:

  • a flat 7.5% personal income tax on the wages of employees of participants in the special "regulatory sandbox" regime — Presidential Decree PF-121 of 27 April 2022 (lex.uz);
  • a fee of $50,000 plus $10,000 for each adult family member (about 589.9 million soums at the Central Bank rate on 17 September 2026) — the special regime for foreign nationals, Presidential Decree PF-180 of 4 October 2025, with the parameters applying from 1 January 2026: a foreign national is exempt from personal income tax on foreign income if they open an account at an Uzbek bank or a crypto wallet on a licensed exchange and pay the fee (lex.uz).

A BCV of 440,000 soums: the figure almost everything is calculated from

Since 1 September 2026, the base calculation value has been 440,000 soums instead of 412,000 soums: section II of Presidential Decree PF-115 of 23 June 2026 (lex.uz; spot.uz). The decree raised wages, pensions, stipends and benefits by 7%, and along with the BCV it automatically raised fees, state duties, capital requirements and fines — all of which are calculated in base values.

Do you need to declare income from cryptocurrency

Primary sources set no special reporting for crypto transactions by individuals: the annual aggregate income declaration covers income subject to taxation, and income from the circulation of crypto assets is not part of the base. The declaration itself is filed no later than 1 April of the year following the reporting year (gov.uz). At the same time, providers identify the customer and retain transaction data for five years (NAPP Regulation No. 3380) — legal platforms are transparent to the regulator even without a tax.

Residents and non-residents

There is no difference in tax terms — the exemption expressly extends to transactions by non-residents. The difference lies in the trading rules: under Rules No. 3379 of 15 August 2022, residents carry out all types of transactions in soums, while with non-residents only the sale of crypto assets for foreign currency is possible. That said, the exemption concerns Uzbek taxes and does not cancel obligations to the tax authority of your country of residence: a Russian tax resident, for example, pays personal income tax under Russian rules (breakdown).

Mining: no tax, but a fee, a double tariff and 1% in Besqala

Mining is permitted only to legal entities holding a NAPP permit (PQ-3832, para. 3(c); Regulation No. 3461 of 29 September 2023). The income falls under the same exemption, but there is a fee of 10 BCV per month (4.4 million soums) and electricity at a double tariff when connected to the unified grid — with surcharges at peak hours and a fivefold tariff for illegal connection.

In the Besqala Mining Valley zone (PQ-143 of 17 April 2026, in force since 20 April 2026) residents' mining income is exempt from taxes until 1 January 2035, but a resident transfers 1% of income to the zone's directorate every month (lex.uz); they are exempt from the fees under Regulation No. 3388 until the same date. Only a legal entity registered in Karakalpakstan can become a resident; the procedure for registering and operating as a resident is set by Regulation No. 3893 of 8 July 2026 (spot.uz).

What you face for transactions outside licensed platforms

Zero tax works only inside the legal perimeter: since 1 January 2023, crypto assets may be bought, sold and exchanged only through national licensed providers (PQ-3832, para. 3(e)), and liability was introduced by Law No. ZRU-899 of 19 January 2024 (lex.uz):

ProvisionOffensePenaltyIn soums at a BCV of 440,000
Article 155-4, Code of Administrative LiabilityTransactions outside licensed providersDetention of up to 15 days or 20–30 BCV with confiscation (anonymous assets — 30–40 BCV)8.8–13.2 million soums (13.2–17.6)
Article 155-5, Code of Administrative LiabilityMining in breach of the established procedureUp to 5 days or 20–30 BCV; on a large scale — 50–100 BCV8.8–13.2 / 22–44 million soums
Article 278-8 of the Criminal CodeA breach committed after an administrative penaltyUp to 100 BCV or up to 1 year of imprisonment; on an especially large scale — 3–5 yearsup to 44 million soums

This is not theory. In September 2026 the Tashkent city police department reported a case against a Tashkent resident born in 1985: about 700 transactions in 2021–2025 through an account on a foreign exchange without a license, with an initial transaction value of more than 9 billion soums (about $683,000); the case was opened under paragraph (a) of part 3 of Article 278-8 of the Criminal Code. Media coverage — daryo.uz, 13 September 2026.

How the neighbors do it: Kazakhstan and Russia

In Kazakhstan, the gain on disposal of digital assets is property income of an individual: 10% individual income tax, reported in the declaration on form 270.00 (the State Revenue Committee of Kazakhstan's Ministry of Finance; Kazakhstan's Tax Code, in force since 1 January 2026). In Russia, cryptocurrency is property, with personal income tax of 13% and 15% on the excess over RUB 2.4 million, and mining taxed at 13–22% (Federal Law No. 418-FZ of 29 November 2024; from 1 September 2026 — Law 282-FZ, breakdown). In other words, the neighbors have a tax and it is declared, while Uzbekistan has none — but entering the industry costs more, and transactions outside licensed platforms are punishable.

What search results get wrong

The MEXC exchange blog (21 August 2025) cites "personal income tax of 12% and 20% for non-residents" and a non-existent "Law on Virtual Assets" (blog.mexc.com) — those are general Tax Code rates and they do not apply to the circulation of crypto assets. Qalampir (29 September 2022) calls the 2022-vintage fees taxes, with "an exchange at 400 BCV, a store at 20 BCV" (qalampir.uz); today the figures are 740 and 185 BCV.

FAQ

Do I have to pay tax if I sold bitcoin at a profit on a licensed platform? No: the transaction is not an object of taxation and the income is not part of the base (PQ-3832, para. 2) — until 1 January 2029.

What if I trade directly on a foreign exchange? There is still no tax, but the transaction breaches the established procedure: liability under Article 155-4 of the Code of Administrative Liability, and on a repeat offense under Article 278-8 of the Criminal Code.

Do non-residents pay tax, and does income have to be declared? Non-residents pay no tax; primary sources set no special obligation to declare crypto transactions.

What happens after 1 January 2029? It has not been decided: an extension would require a new presidential act, and the Tax Code contains no special regime for crypto assets.

Sources

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