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.
Related Articles
Financial Stability Board publishes recommendations on nonbank leverage risks
Global regulator, the Financial Stability Board, published final policy recommendations to address financial stability risks from nonbank financial intermediation leverage, giving authorities ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
17 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago