Uzbekistan Announces Decree Allowing Cryptocurrency Trading

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Available only at the licensed exchange Woodsnex

[Blockchain Today Correspondent Han Ji-hye] On November 22, 2021, a decree allowing Uzbekistan citizens to trade cryptocurrency was announced.

According to the decree, residents of the Republic of Uzbekistan will have the right to freely exchange, buy and sell crypto assets in their own currency on crypto exchanges, and sell crypto assets to non-residents of the Republic of Uzbekistan in foreign currency. It also gives corporations and individual entrepreneurs the right to issue, list and distribute their own tokens on cryptocurrency exchanges.

Virtual asset exchange in Uzbekistan in Group kobeah Woods Annex is the only. UZNEX Exchange (UZNEX) is an exchange that obtained a cryptocurrency exchange license from the National Project Management Agency (NAPM) under the Office of the President of Uzbekistan in December 2019. The expectations of stakeholders are rising whether the Kobea Group’s UzNEX Exchange (UzNEX), which has gained wings by allowing cryptocurrency trading for its citizens in Uzbekistan, can grow into a global cryptocurrency exchange beyond Central Asia.

In addition, legal entities or individual entrepreneurs resident of the Republic of Uzbekistan can now be granted the right to issue, list and distribute their own tokens on cryptocurrency exchanges. In response, global companies are investing, such as EMURGO under the Cardano Foundation, which has already issued cryptocurrency ADA, and large-scale investments in Kobea.

Chang-yong Lee, Chairman of Kobea Group, said, “We are working closely with the Korea Blockchain Entrepreneurs Association and the Korea-Uzbek Entrepreneurs Association to advance the overseas expansion of blockchain companies and promote economic exchanges between Korea and Uzbekistan. We hope that it will serve as a good foothold for domestic companies that have established them.”

KOBEA Group CEO Chang-Yong Lee (right) is receiving Uzbekistan’s first cryptocurrency exchange license from NAPM Deputy Commissioner Magsov Davron (left).
Kobea Group Chairman Chang-yong Lee has a meeting with Uzbekistan NAPM personnel with shareholders. (From left) Former Executive Director Yoshida Yosuke of Emurgo Co., Ltd, Co-founder of Cardano ADA Foundation and Executive Advisor of Emurgo HK Ltd Kenji Sasaki,i, IBH Marketing Team Leader Ellena Ki, ONDEX (former WWX) Director Norihisa Takayama, CEO of Emurgo HK Ltd Hayashi Soichiro, IBH Executive Advisor Yuji Akaba, KOBEA CEO Lee Chang-yong, ONDEX (former WWX) Director Yuya Sugiura, IBH Founder Hiroyuki Enomoto.

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