Tashkent, Uzbekistan (UzDaily.com) —  A 17-year-old young man was arrested in the Bukhara region on suspicion of engaging in illegal cryptocurrency trading. This information was announced during the "Millar" program on Milliy TV on 9 December.

Cybersecurity officers from the regional department of internal affairs identified the violations during "operational and technical activities." The suspect lived in the "Zarafshan" neighborhood of the Jondor district.

According to law enforcement authorities, the teenager had been involved in receiving, trading, and exchanging crypto assets totaling 34 billion soums without the required license.

Shukhrat Jalilov, the spokesperson for the regional police department, confirmed that a criminal case had been initiated under part 3 of Article 278.8 of the Criminal Code (violation of legislation regarding cryptocurrency trading in large amounts). Preliminary investigation is underway.

This article was introduced into the Criminal Code through a law signed earlier this year, which came into effect in April.

Under part 3, the punishment for such a violation can range from 3 to 5 years of imprisonment. However, individuals who voluntarily report the offense and assist in its investigation may be exempt from liability.