In Uzbekistan came into force a decree on the regulation and licensing of cryptocurrency exchanges.
According to the document “About measures on organization of activities of cripture in the Republic of Uzbekistan”, the crypto currency exchange is an organization that provides “electronic marketplace for sharing, buying and selling digital assets.” Cryptocurrencies themselves are classified as “a set of records in the blockchain has value and the owner”.
The decision stated that the license for implementation of activities cryptocurrency trading platforms can obtain only legal entities from other countries.
Licensing requirements include the presence of the authorised capital in the amount of not less than 30 thousand minimum wages (about us $706 thousand) and server platforms on the territory of Uzbekistan.
Cryptocurrency platform also needs to develop trade rules in accordance with the legislation on combating money laundering and financing of terrorism.
In addition, companies are obliged within five years to store information about cryptocurrency transactions of customers and their identification data, and correspondence with the users of the exchanges.
The document stipulates that the activities of kryptomere will not be subject to the legislation on the securities market. Income from operations with cryptocurrency are not taxable, and the sale of digital assets not subject to currency control regulations.
We will remind, in July the President of the country Shavkat Mirziyoev, signed a resolution “On measures for development of digital economy in the Republic of Uzbekistan”. The document provides for the introduction of the blockchain in the state administration, but also addresses the problem of legal regulation of mining, crypto-currencies and smart contracts.
Download the app ForkLog for Android smartphones!
Source
