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Uzbekistan: 2 firms secure landmark digital asset licenses ahead of sweeping industry changes


kram1

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Uzbekistan is looking to introduce a comprehensive regulatory framework for digital assets beginning in 2023, but regulators have already taken the initiative in issuing licenses to operators.

The National Agency for Perspective Projects (NAPP), the country’s chief digital assets regulator, has granted permits to two firms to operate “cryptocurrency stores.” Crypto Trade NET LLC and Crypto Market LLC are the first to receive such licenses and have the designation of local firms.

By virtue of the license, both firms can offer customers online and offline digital asset services. Offline digital asset stores are a novel way for investors to interact with the asset class using mobile banking or cash to trade, says the NAPP.

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