Uzbekistan Outlines Legalisation Methods for Hamster Kombat Tokens

NAPP of Uzbekistan has issued an explanation regarding the Hamster Kombat airdrop and the legal operations involving HMSTR tokens.

Citizens will be able to buy or sell coins only through national providers of crypto asset services (exchanges and exchangers) that list them.

The regulator warned of the high volatility of such assets and the potential for devaluation “due to the lack of useful functionality.”

“We ask our fellow citizens not to trust information about the Hamster Kombat project obtained through unofficial sources, as well as individuals offering their services for buying/selling these tokens, to avoid falling victim to fraudulent schemes,” noted the NAPP.

The agency reminded of the responsibility for violating legislation in the field of crypto asset circulation. The illegal acquisition, sale, or exchange of such assets is prohibited in the country. Such activities are punishable by administrative arrest for up to 15 days or a fine ranging from 20 to 30 BCV.

The airdrop and listing of the Hamster Kombat token took place on September 26. The distribution involved 131 million users, among whom developers distributed 75 billion coins.

In an article for Forbes, Yuri Brisov, a partner at Digital & Analogue Partners, compared the underlying Play-to-Earn model of Hamster Kombat to a financial pyramid, as the project offers income for attracting new participants. According to him, the main problems of such “tap games” remain the shortcomings of tokenomics, dependence on a constant influx of new users, and the lack of legal protection for players.

In June, a 24-year-old student in Uzbekistan was arrested for 10 days for selling the NOT token of the Web3 project Notcoin. The court also ordered the destruction of the Galaxy A30 smartphone and the bank card used for the transactions.