Two Uzbek “crypto stores” get their first crypto licenses.

As Uzbek prepares for the implementation of a new cryptocurrency framework, officials in Uzbekistan have started to grant regulatory permissions to local service providers. This adoption is expected in 2023.

According to a November 17th public declaration, the National Agency for Perspective Projects has distributed the first crypto licenses.

Both Crypto Trade NET LLC LLC (also known as Crypto Market LLC) have received licenses that officially permit them to provide services in connection to cryptocurrency. cryptocurrencies.

Tashkent was listed in the NAPP’s electronic license registration as the location for Crypto Trade NET or Crypto Market.

Behzod Azilov is not only the founder of Crypto Trade NET but also the sole creator.

None of these platforms appeared to have a website at the time that this article was written.

According to NAPP’s statement, licenses were granted to both firms in accordance with the April 2022 presidential decree. This decree sets standards for crypto asset circulation within Uzbekistan.

This announcement follows a Uzbekistan government decision to restrict access to large cryptocurrency exchanges around the world, citing that these exchanges had the right licenses to offer cryptocurrency trading services.

The NAPP appears to have made the announcement in August 2022.

These licenses were issued as Uzbekistan continues to make strenuous efforts in the coming months to create a new crypto regulatory framework.

Only cryptocurrency companies with licenses from the Uzbek government will be allowed to offer their services to Uzbekistanis beginning January 1, 2023.



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