{"id":14676,"date":"2022-11-21T12:25:54","date_gmt":"2022-11-21T12:25:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/uzbekistan-licenses-2-crypto-exchange-service-providers-exchanges-bitcoin-news\/"},"modified":"2022-11-21T12:25:54","modified_gmt":"2022-11-21T12:25:54","slug":"uzbekistan-licenses-2-crypto-exchange-service-providers-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/uzbekistan-licenses-2-crypto-exchange-service-providers-exchanges-bitcoin-news\/","title":{"rendered":"Uzbekistan Licenses 2 Crypto Exchange Service Providers \u2013 Exchanges Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The regulatory body overseeing the crypto market in Uzbekistan has issued licenses to two companies that will be providing exchange services. The decision to authorize their activities aims to make it easier for Uzbekistanis to purchase and sell digital currencies, the agency said.<\/strong><\/p>\n

2 Crypto Exchanges Licensed to Trade Coins in Uzbekistan<\/h2>\n

Uzbekistan\u2019s National Agency of Perspective Projects (NAPP) has granted licenses to two entities established to offer cryptocurrency exchange. Crypto Trade NET and Crypto Market have been registered as \u201cservice providers in the field of crypto assets turnover,\u201d the authority announced<\/a>.<\/p>\n

The NAPP, which is subordinated to the presidency in Tashkent, is the main regulator for the Central Asian nation\u2019s crypto sector. \u201cThe Republic of Uzbekistan is one of the few countries in the world that has a well-formed framework for regulating the circulation of crypto assets,\u201d the agency noted.<\/p>\n

The regulator is referring to several presidential decrees and resolutions issued to determine its responsibilities and develop the country\u2019s digital economy, including the crypto space. They introduced rules for the licensing of businesses dealing with cryptocurrencies.<\/p>\n

Earlier his year, President Shavkat Mirziyoyev signed<\/a> a decree expanding the regulatory framework which provided legal definitions for crypto assets, exchange, and mining. The government also adopted new registration rules<\/a> for miners and introduced monthly fees<\/a> for crypto companies.<\/p>\n

While Uzbekistan already has one cryptocurrency exchange, the government-controlled Uznex<\/a>, the two licensed companies will work as digital money exchangers or \u201ccrypto shops\u201d as defined by the regulations. \u201cIt should be emphasized that Crypto Trade NET LLC and Crypto Market LLC became the first crypto shops in the CIS<\/a> and Central Asia,\u201d the NPP insisted and elaborated:<\/p>\n

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Crypto shops are designed to provide easier access for citizens to buy or sell crypto assets.<\/p>\n<\/blockquote>\n

The National Agency of Perspective Projects also urged Uzbekistani citizens \u201cto be as vigilant as possible\u201d and avoid using the services of online trading platforms that don\u2019t have a license to operate in the country.<\/p>\n

In August, the authority started restricting<\/a> access to foreign-based crypto trading websites. The measures affected even well-known global platforms like the world\u2019s largest crypto exchange, Binance. However, this month the NAPP unblocked<\/a> Bestchange.ru, a popular exchange aggregator in Russia and the former-Soviet space.<\/p>\n

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central asia<\/a>, Crypto<\/a>, crypto exchange<\/a>, crypto exchangers<\/a>, crypto shops<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Exchange<\/a>, exchangers<\/a>, License<\/a>, licensed<\/a>, licensing<\/a>, Regulations<\/a>, service providers<\/a>, Uzbekistan<\/a>, Uzbekistani<\/a><\/div>\n<\/div>\n

Do you think Uzbekistan will license more crypto service providers in the coming months? Tell us in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Damira \/ Shutterstock.com<\/em><\/p>\n

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