The National Agency for Project Management under the President of Uzbekistan (NAPU) proposed allowing residents of the country to buy cryptocurrencies on exchanges.
In the draft document shown for discussion draft document proposes to grant citizens the ability to conduct “all forms of crypto exchange trading of crypto assets and tokens for national and foreign currencies” on exchanges.
“The selection of crypto assets as the object of acquisition, and the consequences of that choice, are the buyer’s own risk,” the document states.
The draft regulatory act also authorizes exchanges that have obtained a license to issue tokens, NAPU noted in a statement to ForkLog.
Residents of Uzbekistan can currently sell cryptocurrencies and tokens through licensed exchanges, but not buy them.
The ban was attributed by NAPU to the population’s low financial literacy.
“Much has changed since 2019. Citizens already have an understanding of crypto assets and how to use them,” ForkLog told NAPU.
In early 2020, Uzbekistan launched its first licensed cryptocurrency exchange, Uznex. It remains the only such platform in the country.
For more on how cryptocurrencies are regulated in Uzbekistan and other Central Asian countries, read ForkLog’s exclusive.
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