The Republic of Uzbekistan continues to progress with local cryptocurrency regulations, with Uzbek President Shavkat Mirziyoyev issuing a new decree regulating the industry.
Released on April 27, the new decree instructs a reorganization of a major presidential agency known as the National Agency for Project Management (NAPM). The authority has previously promoted crypto trading in Uzbekistan, proposing to allow residents to conduct all types of crypto trades in 2021.
According to the decree, the NAPM will be restructured into a new entity called the National Agency for Perspective Projects (NAPP), responsible for a wide range of crypto regulation-related projects with the mission to adopt a “special crypto regulation regime” in Uzbekistan.
The agency is required to develop and adopt a unified state policy on crypto as well as ensure investor protection and enforce measures to combat illegal activities like terrorism financing. The NAPP will also initiate and promote projects that…