Authorities in Uzbekistan restrict access to unlicensed cryptocurrency exchanges.
Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local companies to only use digital asset exchanges licensed by the government of the Central Asian nation.Uzbekistan’s National Agency of Perspective Projects has registered a spike in activities of online platforms providing crypto-related services to Uzbekistanis without the necessary license.
The announcement highlights that the government of Uzbekistan has made consistent efforts to improve the regulatory and institutional framework in the crypto space. A decree signed by President Shavkat Mirziyoyev in 2018 defined the types of business activities pertaining to digital assets like the mining of cryptocurrencies and the provision of services related to their circulation.
Providers whose activities are subject to licensing include mining pools, cryptocurrency exchanges and depositories, as well as other crypto companies that offer individuals or legal entities services for the purchase, sale, exchange, storage, issuance, placement, and management of crypto assets.
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