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 <p class="is-style-lead">Paynet Crypto secures license in Uzbekistan, marking a positive shift in the nation’s crypto stance.</p> 
 <p>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 <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> to operate in the country.</p> 
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    <p lang="en" dir="ltr">The National Agency for Promising Projects of the Republic of Uzbekistan<br>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) pic.twitter.com/Iqw2rEB3oT</p>— Vladimir Norov (@VladimirNorov) August 10, 2023 
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 <p>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 cryptoy industry.</p> 
 <p>In 2019, the National Agency for Project Management, ruled by the president of the Republic of Uzbekistan, banned cryptocurrency purchases in the country.</p> 
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 <p>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.</p> 
 <p>In November 2022, the financial watchdog granted two <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a>s to Crypto Trade NET LLC and Crypto Market LLC.</p> 
 <p>From January 1, 2023, onwards, Uzbek citizens and companies are allowed to conduct transactions with only <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency exchanges that hold a valid <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a>.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Uzbekistan sets regulations for crypto miners 
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Uzbekistan grants operating license to crypto service

TheBitTimes

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