Uzbekistan Continues to Develop Cryptocurrency Infrastructure
Date: 2024-05-03 Author: Henry Casey Categories: CRYPTO PAYMENTS
JAPAN DXT Crypto Depository
The National Agency for the Development of Digital Technologies of Uzbekistan issued a license to JAPAN DXT to operate as a crypto depository. This means that the platform now has the right to issue, initially place and store digital assets.
The third Crypto Depository in the Country
JAPAN DXT has become the third licensed crypto depository in Uzbekistan, thereby confirming the country's commitment to developing cryptocurrency infrastructure. In addition to this company, NAPP also issued permission to operate to two exchanges and ten crypto exchangers.
Market Regulation
Uzbekistan has introduced mandatory registration for cryptocurrency service providers and began blocking unlicensed trading platforms from August 2022. These measures are aimed at ensuring security and protecting the interests of investors.
Increased Market Attractiveness
In March 2024, NAPP increased the amount of fees from Bitcoin exchanges and exchangers registered in the country. This indicates the growing attractiveness of the Uzbek cryptocurrency market and increased interest in investing in this area.
The opening of a new crypto depository and increased market regulation in Uzbekistan underscore the country’s commitment to developing cryptocurrency infrastructure and ensuring investor safety. These steps could help attract new players and stimulate investment in digital assets in the country.
