Eastern European countries can benefit tremendously from cryptocurrency adoption. Government officials, particularly those in Uzbekistan, see things very differently, however.
According to Sputnik, things have grown progressively worse for bitcoin ant altcoins in the country.
Uzbekistan Sets the Wrong Example
It now appears consumers are no longer able to buy cryptocurrency in the country.
Instead, they are only allowed to sell bitcoin and altcoins, which is rather interesting.
To engage in this activity, consumers need to be able to verify they obtained those currencies legally.
Any coins or assets acquired “anonymously” cannot be transferred or owned by people living in Uzbekistan.
It is evident that this new “law” will cripple the cryptocurrency ecosystem in this country.
More specifically, it appears that the government wants to slowly remove all cryptocurrency from circulation.
Even if a holder wants to sell, there are some hoops to jump through.
None of the holdings can be sold domestically, as users can only sell to…