Uzbekistan’s National Agency for Prospective Projects (NAPP) has issued a new directive that increases the monthly fees for crypto market participants in the country. The mandate was given on Tuesday, March 19, 2024.As per the official statement, the revised fee framework is an amendment to a directive initiated by the Ministry of Justice in September 2022.

This change follows the NAPP’s assessment of the “adequate profitability” within the cryptocurrency retail and exchange sectors, prompting the introduction of a new fee structure impacting both entities Under the updated fee system, crypto exchanges face a monthly fee of 740 Basis Reference Value (BRV), equivalent to 251.6 million in Uzbekistan som(UZS) —the nation’s fiat currency— ($20,015), marking a substantial

increase from the previous fee of 400 BRV or UZS 136 million ($10,819).The BRV is primarily used for calculating various financial

transactions, including taxes, fees, and fines.