{"id":18915,"date":"2022-11-25T16:17:45","date_gmt":"2022-11-25T16:17:45","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/25\/uzbekistan-issued-their-first-crypto-licenses-to-local-crypto-stores\/"},"modified":"2022-11-25T16:17:45","modified_gmt":"2022-11-25T16:17:45","slug":"uzbekistan-issued-their-first-crypto-licenses-to-local-crypto-stores","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/11\/25\/uzbekistan-issued-their-first-crypto-licenses-to-local-crypto-stores\/","title":{"rendered":"Uzbekistan Issued Their First Crypto Licenses To Local Crypto Stores"},"content":{"rendered":"

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Only authorized cryptocurrency companies will be permitted to provide Uzbekistan\u00a0residents bitcoin trading services beginning in January 2023.<\/p>\n

Uzbek officials have begun giving local cryptocurrency providers legal permits as they get ready for the country to implement a new crypto legislation in 2023.<\/p>\n

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According to a declaration made public on November 17, Uzbekistan\u2019s main cryptocurrency market regulator, the NAPP\u00a0has granted the country\u2019s first crypto\u00a0licenses.<\/p>\n

The licenses formally permit two \u201ccryptocurrency retailers,\u201d namely Crypto Trading NET LLC or Crypto Market<\/a> LLC, to provide services associated with cryptocurrencies.<\/p>\n

Both Cryptocurrency Trade NET as well as Cryptocurrency Market are situated in Uzbekistan, as per data from the NAPP\u2019s digital licensing record. The information also lists Kamolitdin Nuritdinov as the sole creator and investor of Crypto Market. The only creator and stakeholder of Crypto Trading NET is Behzod Achilov. At that\u00a0time of this writing, neither of the systems appeared to possess an active website.<\/p>\n

Uzbekistan Issued Their Crypto Licenses To The Local Stores:<\/span> <\/strong><\/h2>\n

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According to the release, the NAPP has granted licenses to the 2\u00a0businesses in accordance with the presidential order that established guidelines for the distribution of digital assets in Uzbekistan and was published in Apr 2022.<\/p>\n

The announcement follows the authorities of Uzbekistan\u2019s recent blocking of many significant international cryptocurrency exchanges owing to their lack of a valid license to provide cryptocurrency trading services.<\/p>\n

The restriction apparently only affected crypto juggernauts like Binance as well as Huobi, while customers reportedly managed to still visit their websites via VPN services. In Aug\u00a02022, the NAPP announced the measures, however it appears the announcement has since been removed.<\/p>\n

The most recent licenses coincide with Uzbekistan\u2019s aggressive preparations to develop a new regulatory regime for cryptocurrencies in a few month. Beginning on January 1, 2023, the Uzbek authorities will only permit authorized cryptocurrency<\/a> companies to offer services to Uzbek nationals.<\/p>\n

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