Uzbekistan legalized crypto exchanges

On September 2^nd, 2018, the President of the Republic of Uzbekistan issued a Decree “On measures concerning organizing the activities of critical exchanges in the Republic of Uzbekistan”.

In accordance with this Resolution, a crypto asset is a set of records in the blockchain, which has value and owner. Transactions related to the circulation of crypto assets are not subject of taxation.

A crypto exchange will be recognized as an organization that provides an electronic platform for the exchange, purchase and sale of crypto assets. To operate, the crypto-exchange must have a charter fund in the amount of at least 30,000 minimum wages in the form of cash, an electronic crypto-exchange trading system located on Uzbekistan servers, as well as crypto-exchange trading rules.

Information on transactions with crypto-assets of clients should be stored for five years.

On materials of the following website: https://static.norma.uz/official_texts/%D0%9E%20%D0%BC%D0%B5%D1%80%D0%B0%D1%85%20%D0%BF%D0%BE%20%D0%BE%D1%80%D0%B3%D0%B0%D0%BD%D0%B8%D0%B7%D0%B0%D1%86%D0%B8%D0%B8%20%D0%B4%D0%B5%D1%8F%D1%82%D0%B5%D0%BB%D1%8C%D0%BD%D0%BE%D1%81%D1%82%D0%B8%20%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE-%D0%B1%D0%B8%D1%80%D0%B6%20%D0%B2%20%D0%A0%D0%B5%D1%81%D0%BF%D1%83%D0%B1%D0%BB%D0%B8%D0%BA%D0%B5%20%D0%A3%D0%B7%D0%B1%D0%B5%D0%BA%D0%B8%D1%81%D1%82%D0%B0%D0%BD.pdf