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Crypto firms in Uzbekistan will have to pay fees to the state under new legislation proposed by regulators. The charges vary depending on the business activity and can reach $11,000 a month in the case of digital asset exchanges. Failure to pay will result in license suspension. Crypto Operators in Uzbekistan
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The central Asian country is cracking down on the local crypto industry. A crypto regulation framework published in April mandated crypto exchanges, custodians and mining pools operating in the country to register with regulators. In August, the country moved to block crypto exchanges like Binance, Huobi, FTX and Bybit, saying
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The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity. In a statement from Aug. 10, the National Agency of Perspective Projects (NAPP) projects
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Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local companies to only use digital asset exchanges licensed by the government of the Central Asian nation. Uzbekistan Takes Steps to Prevent Crypto Trading
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Binance Among Crypto Exchanges Blocked as Uzbekistan Clamps Down Source
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Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in
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The National Agency of Prospective Projects (NAPP) in the 34-million nation of Uzbekistan enunciated its demands toward the crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies. The normative act on the government page, dated June 24, prescribes the confirmation
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As of Jan. 1, 2023, Uzbekistan residents will be able to buy or sell crypto only on the local exchanges, which must verify the identity of users through a know-your-customer (KYC) process, and store data about all the transactions for five years. Crypto service providers are not allowed to facilitate
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The government of Uzbekistan has moved to expand its crypto regulations through a decree signed by President Shavkat Mirziyoyev. The document provides definitions for terms like crypto assets, exchange, and mining, and determines the main regulatory body for the industry. Agency Under President Mirziyoyev to Oversee Crypto Market in Uzbekistan Uzbekistan’s
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Changes to the rules governing activities of crypto exchanges in Uzbekistan now allow residents to trade coins on licensed platforms. Uzbekistanis could previously only sell their digital assets. The new provisions also regulate the issuance of tokens and their listing. Uzbekistan Loosens Restrictions on Domestic Crypto Trading Uzbekistanis will be able
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