Uzbekistan is now introducing licensing for crypto exchanges. To operate in the country, foreign trading platforms will have to establish local subsidiaries and abide by the country’s relevant laws.
President of Uzbekistan, Shavkat Mirziyoyev has signed a decree that states legalizing cryptocurrency exchanges. The decree also mentions licensing regime for trading platforms, as well as a number of requirements company, needs to meet in order to operate in the country.
According to news.bitcoin.com:
The decree “On measures to organize the activities of crypto-exchanges in Uzbekistan”, № ПП-3926 from September 2, states that an organization which provides an electronic platform for the exchange, purchase and sale of crypto assets is recognized as crypto exchange in Uzbekistan. The legal document defines ‘crypto assets’ as a set of records in a blockchain that has value and owner.