Uzbek citizens may soon be able to freely buy and sell cryptocurrencies on exchanges. The National Agency for Project Management (NAPU) has drawn up a bill that proposes lifting the ban on the procurement of cryptocurrencies on exchanges by individuals.
According to current legislation, citizens are limited to selling crypto; buying it is forbidden on pain of criminal liability.
NAPU representatives said the restriction was there in part because of the lack of financial literacy of the population in crypto. “Not everyone understands what a cryptocurrency is, how to mine, sell or buy it, and that creates risks,” one representative said.
In January 2020, Uzbekistan inaugurated the first crypto exchange in Central Asia.
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