Uzbekistan issues first crypto-depository license.

On June 21, the National Agency for Prospective Projects of Uzbekistan (NAPP) выдало the first license to operate a crypto-depository for Lockton Hub.

The organization is registered as a limited liability company in the capital, Tashkent. The firm is a subsidiary of the UAE broker Lockton Solution LLC-FZ.

According to the country’s legislation, a crypto-depository is a legal entity that provides an electronic platform for issuing, initial placement and custody of digital assets.

In the NAPP register, alongside Lockton there are five companies with active licenses as digital asset providers: “crypto shops” Crypto Trade Net, Crypto Market, Crypto Express and Cryptopay, as well as the Bitcoin exchange Kobea.

In 2022, the Uzbek authorities passed a raft of laws regulating the cryptocurrency market. NAPP also established the framework for the issuance and circulation of digital assets.

In particular, the licensing and trading on crypto exchanges rules have been approved. Moreover, miners and providers of cryptocurrency-related services began paying monthly fees.

Earlier in May, NAPP registered the first participant in the Special Regime for Regulatory Sandboxes — the company “Unified Integrator — UZINFOCOM.” The project envisages issuing NFT certificates on the blockchain to confirm ownership of names in the .uz domain.