Uzbekistan bans cryptocurrency payments
BAKU, Azerbaijan, Dec. 23
By Fakhri Vakilov-Trend:
The law has forbidden the use of cryptocurrency as a means of payment in Uzbekistan, as follows from the order of Dmitry Li, director of the National Agency for Project Management under the President of Uzbekistan, Trend reports citing the press service of the Agency.
"Crypto assets cannot be used on the territory of Uzbekistan as a means of payment," the order says.
The document also established the procedure for the operation of crypto-exchange trading on the territory of the country.
Whereas there is not a single crypto exchange in Uzbekistan, when they appear, the country's inhabitants will only be able to sell crypto assets to foreigners; however, it will not be possible to buy them. Anonymous transactions will also be banned.
The legislation of Uzbekistan allows the promotion of crypto assets, tokens and the activities of cryptocurrency exchanges, but provided that the buyer is not misled. In particular, it must be warned of the risk of losing all investments.
Earlier, there was no direct ban or permission for cryptocurrency in Uzbekistan, so some companies, and in particular, the TravelSystem travel agency, started accepting bitcoins as payment.
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