Uzbekistan Allows Residents to Trade Cryptocurrencies on Local Exchanges - Aliens: AI Crypto News & Markets Updates

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Uzbekistan Allows Residents to Trade Cryptocurrencies on Local Exchanges

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Bitcoin

Fri, Nov 26, 2021

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Changes to the rules governing activities of crypto exchanges in Uzbekistan now allow residents to trade coins on licensed platforms.

Uzbekistanis will be able to trade digital currencies on the country’s licensed crypto exchanges.

This has become possible after the National Agency for Project Management (NAPM) under President Shavkat Mirziyoyev recently amended the rules pertaining to local cryptocurrency trade.

According to the new regulations, residents of Uzbekistan can buy, sell, and exchange crypto assets domestically for their national currency, Forklog reported, quoting a decree issued by the agency’s director.

Uzbekistan legalized crypto trading in 2018 but in late 2019 the government banned local residents from purchasing cryptocurrencies.

The regulatory body explained that the lifting of the restrictions has to do with citizens changing their approach to crypto investing which has become “more rational and balanced.” In September this year, the NAPM warned against trading on unregistered platforms, reminding residents that in accordance with the presidential decree “On measures to develop the digital economy in the Republic of Uzbekistan” and the law “On licensing and notification procedures,” crypto exchange operations are subject to licensing.

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