Authorities in Uzbekistan have effectively banned residents from purchasing cryptocurrencies on digital asset exchanges licensed in the country. Crypto holders will only be able to sell their coins and that’s if these have not been obtained through anonymous transactions, amendments to the local regulations postulate.
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Uzbekistan Amends Its Crypto Regulations
The Central Asian republic made it to the crypto media headlines last year, when it legalized cryptocurrency trading and introduced licensing for exchanges with a presidential decree issued in the fall of 2018. An earlier decree, signed by President Shavkat Mirziyoyev in the summer of that same year, prepared the legal grounds for other activities related to the circulation of digital coins. For a while, the country looked like a promising destination for crypto business.
However, the National Agency for Project Management, which is subordinated to the presidency, has recently adopted amendments to the regulatory…