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Paynet Crypto secures license in Uzbekistan, marking a positive shift in the nation’s crypto stance. 
The former Minister of Foreign Affairs of Uzbekistan, Vladimir Norov, announced on Twitter that Paynet Crypto, a company behind Paynet payment system, had acquired a license to operate in the country. 
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 The National Agency for Promising Projects of the Republic of Uzbekistan has issued licenses for the activities of the crypto store LLC "Paynet Crypto" – a subsidiary of LLC "Uzpaynet" and LLC "C-Base" (owner – Alikulov Alisher Zholbolduevich) <a href="https://t.co/Iqw2rEB3oT" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Iqw2rEB3oT</a>— Vladimir Norov (@VladimirNorov) <a href="https://twitter.com/VladimirNorov/status/1689465053076963328?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 10, 2023</a> 
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Uzbekistan is trying to become a crypto-friendly region in Central Asia. However, the situation in the country hasn’t always been positive for the <a href="https://crypto.news/cryptocurrency-and-environment-how-digital-coins-affect-the-planet/" rel="noopener noreferrer nofollow">cryptoy</a> industry. 
In 2019, the National Agency for Project Management, ruled by the president of the Republic of Uzbekistan, banned cryptocurrency purchases in the country. 
 You might also like: <a href="https://crypto.news/uzbekistan-gives-first-ever-crypto-licenses-to-two-local-firms/" rel="noopener noreferrer nofollow"> Uzbekistan gives first-ever crypto licenses to two local firms </a> 
Later in 2021, the NAPM issued a report aiming to change the negative situation for the cryptocurrency industry in Uzbekistan by proposing several changes to the licensing process for crypto companies. 
In November 2022, the financial watchdog granted two crypto licenses to Crypto Trade NET LLC and Crypto Market LLC. 
From January 1, 2023, onwards, Uzbek citizens and companies are allowed to conduct transactions with only cryptocurrency <a href="https://crypto.news/crypto-exchanges-relist-xrp-amid-ripples-partial-victory-in-us/" rel="noopener noreferrer nofollow">exchanges</a> that hold a valid crypto license. 
 Read more: <a href="https://crypto.news/uzbekistan-regulations-crypto-miners/" rel="noopener noreferrer nofollow"> Uzbekistan sets regulations for crypto miners </a>

Uzbekistan grants operating license to crypto service

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