Authorities explained it by the lack of licenses on trading platforms.
Officially, licensing of cryptocurrency exchanges has been introduced in Uzbekistan for several years, and the first “legal” exchange began working there as early as January 2020.
Of course, the largest market players were in no hurry to obtain a license in Uzbekistan. As a result, they did not receive permission to serve local traders.
Uzbekistan is not a friendly jurisdiction
Thus, since August 9, access to the websites of FTX, Binance and other major bitcoin exchanges has been banned in the country. In addition, the authorities urge users to inform them if they come across unlicensed sites operating in the country.
The icing on the cake: the law, which comes into force on January 1, 2023, states that individuals and legal entities will be able to use digital assets only on legal sites that obtained official authorisation.