Nearly all Bitcoin exchanges blocked in Uzbekistan

In Uzbekistan, access to unlicensed cryptocurrency exchanges and exchange services has been restricted. ForkLog confirmed the information with the National Agency for Prospective Projects (NAPP), which acts as the regulator of the industry in the country.

emphasised that exchanges and other platforms offering services in the cryptoasset turnover space must obtain a service-provider license to operate in Uzbekistan.

Such platforms also request residents’ personal data without regard to the requirement to host servers on the territory of Uzbekistan, the regulator noted:

“In addition, they bear no legal responsibility for carrying out operations with crypto assets, cannot guarantee the legitimacy of the transactions conducted, nor proper storage and safeguarding of citizens’ personal data.”

According to April decree, from January 1, 2023, Uzbek citizens and legal entities will be able to conduct cryptocurrency buy-sell or exchange transactions exclusively through service providers.

“Since that moment [the decree’s publication], we did not block overseas platforms, as we understand that our citizens have funds on these platforms. But this measure did not mean that citizens could trade freely on foreign platforms until January 1, 2023. The ban on this had already existed since 2019,”

said the NAPP.

At present, only one exchange has obtained a license to operate in Uzbekistan — UzNEX.

“We are always ready to consider license applications from all major crypto exchanges if they are interested in starting activity in Uzbekistan in accordance with the law,” said the NAPP.

In 2021, Uzbek authorities urged residents not to use “unofficial” platforms for trading and exchanging cryptocurrencies.

In June 2022, NAPP developed a registration regulation for miners.

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