The Uzbek regulators have begun issuing regulatory approvals to regional cryptocurrency service suppliers as they prepare for the nation to undertake a brand new cryptocurrency framework in 2023, as reported by Cointelegraph.
Cointelegraph additional famous that in keeping with a declaration made public on November 17, Uzbekistan’s major cryptocurrency market regulator, the Nationwide Company for Perspective Tasks (NAPP), has granted the nation’s first cryptocurrency licences.
The licences formally allow two “cryptocurrency shops,” together with Crypto Commerce NET LLC and Crypto Market LLC, to offer companies related to cryptocurrencies.
Cointelegraph famous that each Crypto Commerce NET and Crypto Market are primarily based in Tashkent, in keeping with data from the NAPP’s digital licence register. The knowledge additionally lists Kamolitdin Nuritdinov as the only real founder and shareholder of the Crypto Market. The only real founder and shareholder of Crypto Commerce NET is Behzod Achilov.
In accordance with the announcement, the NAPP has granted licences to the 2 companies in accordance with the presidential decree that established pointers for the circulation of digital property in Uzbekistan and was issued in April 2022, Cointelegraph famous.
The newest licences coincide with Uzbekistan’s lively preparations to undertake a brand new regulatory framework for cryptocurrencies in a number of months. Starting on January 1, 2023, the Uzbek authorities will solely allow authorised cryptocurrency firms to supply companies to Uzbek residents.
(With insights from Cointelegraph)