Uzbekistan The Crypto Friendly Country Dealing The Hands To Crypto Exchanges

In all honesty, I'm amazed at how far Uzbekistan has embraced cryptocurrency, it actually isn't of necessity to have crypto as your legal tender although if it is, it allows crypto easier access. What we are being dealt with now in the digital world is scams and the means at which it is operating creating anonymously and pseudonymously. Its absolutely great how the government of countries want to get into different chains to have access to transactions. Nevertheless, the insecurity that exist within the crypto space is quite alarming, you just remain amazed at the amount that has been lost each year due to exploiters.

Back to Uzbekistan, crypto mining is tax free as long as it is solar powered, the use of electricity though is run on heavy tariffs.

The deal now is Uzbekistan is stopping every foreign cryptocurrency exchange aside the country's crypto exchange UZNEX. Just to note, privacy and security are the the elements that protects ones identity. Incessantly, we've seen the continuous breach of security that continuously has. Exploiters get access to ones keys by phishing and any other ways the can use in getting in even as well as finding a bug from the protocol of a smart chain. It has and still happens. Security has been the obvious and alarming problem crypto is facing even from individuals building a corrupt system that is doomed to crash eventually only the still cause more loss to user after being caught. That huge scams that erupted this year from Terra/UST was the most alarming that resounded around the world.

Privacy remains paramount to security although it's looked likely upon if not of recent times with Tornado Cash which has mixed opinions as the pros have nothing to do with the cons. What individuals do is only dependent on themselves. For someone like myself, protecting myself at all times would always be just a step ahead.

Apparently to continue operation in Uzbekistan, crypto exchanges that have been operational are to stop all operations and get licensing. When government initially started wanting a form of interference in crypto activities wasn't justified but with the rate of scams that's ever increasing as exploiters keep getting away. Funny enough users are aware of the risk behind each transactions and if the worse happens, there's no ideal punishment only to receive a bounty. Binance and FTX, Huobi and Bybit are to get licensing in the country before operation, crypto shops, mining pools and in as much as you'd be dealing with crypto.

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