Uzbekistan plans to introduce cryptocurrency regulation

Local news agency Vzglyad reports that plans to regulate Bitcoin will be published after the Blockchain Master Center begins operations in September this year.

Shavkat Mirziyoyev, President of Uzbekistan, gave the green light to a document that defines regulatory plans for blockchain technology and cryptocurrency. Also, legislative proposals were approved by the Central Bank and a number of other government bodies and ministries.

The blockchain center will be located in Tashkent at the Mirzo Ulugbek Innovation Center and will begin its work on July 1. According to local sources, the agenda will include the issue of “formulating conditions for using the potential of blockchain technology, increasing professional capabilities and supporting domestic developers in its development.”

The topic of cryptocurrencies is relevant for the countries of the former CIS.  Belarus has already created a national cryptocurrency, and the President of the Republic Alexander Lukashenko signed a decree “On the development of the digital economy.” Also in Belarus they plan to create favorable conditions for the development of innovative financial technologies and build a plant for the production of mining devices.