Paynet Crypto Secures License in Uzbekistan
Paynet Crypto, the company behind the Paynet payment system, has obtained a license to operate in Uzbekistan, signaling a positive shift in the nation’s stance on cryptocurrency. This development comes as Uzbekistan aims to become a crypto-friendly region in Central Asia. Previously, cryptocurrency purchases were banned in the country, but the National Agency for Project Management has been working to change that. They have proposed changes to the licensing process for crypto companies, and as a result, two licenses have already been granted to other crypto businesses. Starting from January 1, 2023, Uzbek citizens and companies can only transact with cryptocurrency exchanges that hold a valid crypto license.
Key Points:
- Paynet Crypto has acquired a license to operate in Uzbekistan.
- The country is striving to become a crypto-friendly region in Central Asia.
- The National Agency for Project Management has proposed changes to the licensing process for crypto companies.
- Two crypto licenses have already been granted to other businesses.
- Starting from January 1, 2023, transactions can only be conducted with licensed cryptocurrency exchanges.
Hot Take:
Uzbekistan’s decision to grant a license to Paynet Crypto is a positive step towards embracing the crypto industry. By actively working to become a crypto-friendly region, Uzbekistan shows a willingness to adapt to the changing financial landscape. This move not only benefits Paynet Crypto but also paves the way for further development and adoption of cryptocurrencies in the country.
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