THELOGICALINDIAN - Cryptocurrency cannot be adopted as a agency of acquittal in Uzbekistan a highranking official from the countrys axial coffer has afresh declared Speaking to bounded media the regulators adumbrative additionally acclaimed that clashing cryptocurrencies the civic authorization is backed by the banks assets The account comes in animosity of Tashkents cryptofriendly moves in the accomplished
Cryptocurrency Cannot Be Accepted for Payments in Uzbekistan, Monetary Authority Says
Cryptocurrencies such as bitcoin cannot be accustomed as acknowledged breakable in Uzbekistan and that’s absurd to anytime change, a axial coffer official told Atom this week. Speaking to the bounded account outlet, the Deputy Chairman of the Axial Coffer of the Republic of Uzbekistan (CBU) Behzod Hamraev said:
The adumbrative of the budgetary ascendancy acicular out that 28 abundance Uzbekistani sum (the nation’s authorization money) are currently in apportionment and they are all backed by the axial bank’s assets. “You can alike see an inscription of the regulator’s obligations on the banknotes, and cryptocurrency is not backed by anything,” he added.
The government of Uzbekistan congenital a ban on the use of cryptocurrency for payments into its legislation aback in 2024. According to accepted law, the sum charcoal the alone acknowledged breakable in the Central Asian country. A decree issued by the National Agency for Project Management, a authoritative anatomy amenable for the blank of the agenda economy, emphasized:
At the aforementioned time, the decree additionally alien regulations administering the licensing and operation of cryptocurrency exchanges. Crypto trading was legalized in 2018 but in December 2019, authorities finer banned association from purchasing cryptocurrencies on the trading platforms while they were accustomed to advertise their crypto holdings.
Then, in January 2020, Tashkent announced it planned to set up a civic mining basin as a priority, authorize a accountant cryptocurrency barter area miners will be acceptable to advertise their agenda coins, create a blockchain basin and acquaint crypto tax exemptions. The adapted agenda asset platform, Uznex, operated by the South Korean article Kobea Group, was launched after the aforementioned month.
The latest account from the Central Bank of Uzbekistan apropos the cachet of cryptocurrencies comes afterwards El Salvador became the aboriginal country to adopt bitcoin (BTC) as acknowledged breakable alongside the U.S. dollar. It additionally follows a agnate statement by Dmitry Peskov, agent of Russian admiral Vladimir Putin, who afresh said Russia isn’t accessible to acquire the bread as a agency of payment.
Do you anticipate Uzbekistan will change its behavior appear cryptocurrencies in the future? Share your expectations in the comments area below.
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