Authorities of Uzbekistan have begun restricting access to crypto exchanges and trading platforms that are not registered under the nation’s laws to improve the regulatory and institutional framework of crypto assets within Uzbekistan.
In an official statement by the National Agency of Perspective Projects (NAPP), the agency revealed an influx in the number of unlicensed crypto exchange and trading firms operating in the Republic of Uzbekistan. It states that these platforms offer services pertaining to the sale of crypto assets by requesting the personal data of its citizens.
The statement advises people to be cautious and claims that the firms “do not bear any legal responsibility for carrying out transactions with crypto-assets, cannot guarantee the legitimacy of transactions, as well as the proper storage and confidentiality of personal data of citizens of the Republic of Uzbekistan.”
As a result, NAPP has started blocking access to crypto platforms, including exchanges, mining pools, and “crypto shops” that do not possess a service provider license in accordance with the nation’s legislation.
Gleb Kostarev, Binance’s Chief of Eastern Europe, confirmed that citizens of the Republic of Uzbekistan have been unable to access Binance’s website since Tuesday. He also claimed that other exchanges Bybit, Huobi, and FTX, were also blocked by Uzbekistan authorities.
As of writing this article, only one exchange, Uznex, has the license to provide crypto services in Uzbekistan.
