Uzbekistan Tops Regional Cryptocurrency Adoption Rating
Date: 2024-11-28 Author: Oliver Abernathy Categories: IN WORLD
A key factor in Uzbekistan's success was a comprehensive regulatory framework covering such aspects as licensing, regulation of operations, and combating money laundering. There are 15 cryptocurrency providers registered in the country, 10 of which operate as crypto stores. In 2024, the turnover of licensed operators exceeded $1 billion, which underlines the active development of the industry.
In second place in the region is Kazakhstan, where more than 1.5 million people participate in the global turnover of crypto assets, which is 8% of the population. This country also demonstrates a high level of involvement in the industry, occupying a significant place in the regional crypto economy.
Kyrgyzstan, for its part, has become one of the most crypto-friendly jurisdictions. According to data for 2024, there are over 100 virtual exchange operators registered here, including crypto exchanges and exchangers. In the first six months of the year, the total turnover of funds exceeded $4 billion, which indicates high activity in the market.
At the same time, the National Agency for Prospective Projects of Uzbekistan (NAPP) decided to increase fees from cryptocurrency exchanges and exchangers. This step is aimed at strengthening state control over the sector and increasing budget revenues.
Thus, Uzbekistan, Kazakhstan and Kyrgyzstan stand out as leaders in the region in terms of cryptocurrency adoption, each of which contributes to the development of the industry.
