The regulator that oversees Uzbekistan’s crypto market has Licensed to two companies that provide exchange services. The decision to approve their activity is aimed at making it easier for Uzbeks to buy and sell digital currencies, the agency said.
Two cryptocurrency exchanges licensed to trade coins in Uzbekistan
Uzbekistan’s National Agency of Perspective Projects (NAPP) offers cryptocurrency exchanges Licensed to two entities established for Crypto Trade NET and Crypto Market are registered as “service providers in the field of cryptocurrency trading,” the authority announced.
, is the primary regulator of the national crypto sector in Central Asia. “The Republic of Uzbekistan is one of the few countries in the world that has an adequate framework for regulating the circulation of crypto assets.
Regulators cites several presidential decrees and resolutions issued to determine its responsibilities and to develop the country’s digital economy, including the crypto space.They set rules on the licensing of businesses dealing with cryptocurrencies.
Earlier that year, President Shavkat Mirziyoyev signed a decree expanding the regulatory framework providing legal definitions for crypto assets, exchanges and mining. , adopted new registration rules for miners and introduced monthly fees for crypto companies.
Uzbekistan already has one government-controlled cryptocurrency exchange called Uznex, but it has no license. The two companies that received the award act as digital currency exchanges or “virtual currency shops,” as defined by the regulation. “It should be emphasized that Crypto Trade NET LLC and Crypto Market LLC have become the first crypto shops in the CIS and Central Asia,” he argued, detailing the NPP. .
Crypto Shop is designed to provide easier access for citizens to buy and sell crypto assets.
The National Perspective Project Agency also urged Uzbek citizens to be “as vigilant as possible” and avoid using the services of unlicensed online trading platforms operating in the country.
In August, authorities began restricting access to foreign-based crypto trading websites. The move has also affected well-known global platforms like Binance, the world’s largest cryptocurrency exchange. But this month, NAPP unblocked his Bestchange.ru. Bestchange.ru is a popular exchange aggregator in Russia and the former Soviet bloc.
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