Cryptocurrency
In Uzbekistan:
Legal Or Not?
the existence of rules for crypto-exchange trading, which must necessarily reflect:
Crypto-exchanges were granted the right to:
The turnover of crypto assets and tokens was regulated with the adoption of Order No.16 of the Director of the National Agency for Project Management dated 21.01.2019, No. 3127, which approved the Regulation on the procedure for licensing the activities of crypto exchanges and the rules for conducting crypto-exchange trading.
The rules for the implementation of crypto-exchange trading gave definitions to the main concepts used in crypto-exchange trading:
Under the Rules of crypto-exchange trading, residents of Uzbekistan cannot buy digital currency. They are only allowed to sell crypto assets and tokens. This restriction does not apply to citizens of other countries. They have the right to buy and sell crypto assets, subject to their mandatory identification and the conclusion of official contracts with them.
Any anonymous transactions with cryptocurrency are prohibited in Uzbekistan. Also, crypto-assets cannot be used as a means of payment on the territory of Uzbekistan. The authorised body regulating transactions with cryptocurrency is the National Agency for Project Management under the President of Uzbekistan (NAPU).
The content of this article is intended to provide a general guide
to the subject matter. Specialist advice should be sought
about your specific circumstances.