Uzbekistan Recognises Stablecoins as Legal Tender

Uzbekistan to recognise stablecoins as legal tender from 2026.

From January 1, 2026, Uzbekistan will implement a special legal framework under which stablecoins will become an official means of payment.

On November 27, President Shavkat Mirziyoyev signed the relevant law titled “On Measures for the Further Development of Financial Technologies.”

According to the decree, the special legal framework includes:

• the implementation of pilot projects to create a payment system based on blockchain technology;
• the introduction of a “regulatory sandbox,” the duration of which will be determined by the National Agency for Perspective Projects in conjunction with the Central Bank.

Beginning in 2026, legal entities resident in Uzbekistan will be permitted to issue tokenised shares and bonds.

A separate trading platform will be established on the stock exchange for the placement of these products. Licensed service providers will have access to it.

From January 2024, the illegal acquisition, sale, or exchange of cryptocurrencies will be prohibited in the country. Violations will incur fines and prison sentences.

Since May, an updated procedure for licensing bitcoin exchanges has been in effect.

Earlier in spring 2025, Uzbekistan announced plans to issue the stable token HUMO based on government bonds.