Law enforcement officers detained a resident of Tashkent who was attempting to sell 20 bitcoins, and opened a criminal case against him, according to the local publication Kun.uz.
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The detainee planned to sell the bitcoins at a price of $10 463 per coin. With a 7% commission, the deal was valued at $224,000.
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The seller was charged under Articles 177 (illegal acquisition or sale of monetary values) and 190 (engaging in activity without a licence) of Uzbekistan’s Criminal Code.
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A similar incident произошел in June. Law enforcement then detained a resident of Uzbekistan who since 2019 carried out illegal buy-sell operations of bitcoins worth $3 million via Telegram.
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Citizens are prohibited from buying cryptocurrencies. Through exchanges they may only conduct sales.
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The use of cryptocurrencies as a means of payment or for accepting payments within the country is also prohibited.
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In May 2020, Uzbek authorities required those engaged in cryptocurrency turnover to comply with AML requirements. To carry out such activity, a license must be obtained.
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ForkLog previously examined in detail the licensing rules for cryptocurrency exchanges in Uzbekistan.
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Cut off residents and privacy – a strange case of regulating Bitcoin exchanges in Uzbekistan
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