8 months ago

In Uzbekistan a decree on regulating and licensing the activity of crypto-exchanges has entered into force.

According to the document “On Measures for the Organization of the Operation of the Crypto-Exchange in the Republic of Uzbekistan”, a crypto-exchange is an organization that provides an “electronic platform for the exchange, purchase and sale of digital assets”. Cryptocurrencies themselves are classified as “a set of records in blockchain, having value and an owner.”

The resolution states that only juridical persons from other countries can obtain a license to carry out the activity of cryptocurrency trading platforms.

A crypto-exchange platform should also develop trade rules in accordance with the legislation on combating money laundering and the financing of terrorism.

In addition, companies are required for five years to store information about the client’s crypto transactions, their identification data, as well as correspondence with the users of exchanges.