Uzbekistan registers its first NFT issuer

On 28 April, NAPP of Uzbekistan registered the first participant in the special regime regulating the circulation of crypto assets — the company “Unified Integrator – UZINFOCOM”. ForkLog reported this, according to agency representatives.

The pilot project implemented within the regulatory sandbox envisages the introduction of NFT certificates on the blockchain to confirm ownership of names in the .uz domain zone.

According to officials from NAPP, it will be the Unified Integrator – UZINFOCOM that will issue non-fungible tokens on the blockchain.

“The introduction of this technology is aimed at strengthening the protection and guarantees of owners’ rights to domain names, and ensuring greater transparency and reliability of information about them,” the agency added.

Under current law, individuals may issue NFTs through a crypto depository or other electronic platforms provided for by the order of NAPP.

In 2022, Uzbekistan authorities enacted a number of laws regulating the cryptocurrency market.

In particular, the rules for licensing and trading on crypto exchanges have been established, and the procedure for the issuance and turnover of digital assets has been defined. In addition, miners and providers of services related to cryptocurrencies began paying monthly fees.

Earlier, ForkLog reported that in 2022 five licensed cryptocurrency companies in Uzbekistan paid more than $310,000 into the budget.