Illegal cryptocurrency exchange platforms intensify in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- The National Agency for Project Management under the President of the Republic of Uzbekistan, in the course of monitoring the resources of the World Wide Web, found that there is an increase in the activity of various unofficial platforms for trade and exchange of crypto-assets.
Such platforms offer citizens to exchange, sell or purchase crypto-assets, while they are often asked to provide personal data, but they do not have server capacities in the territory of the Republic of Uzbekistan and their addresses are registered in other countries. Examples of similar platforms:
Along with this, such activities are carried out through Telegram bots and groups, while their organizers actually have complete anonymity and, if necessary, can quickly delete a channel or group.
Given that this kind of platform does not bear any legal responsibility for the implementation of transactions with crypto-assets between the parties and cannot guarantee the legitimacy of the transactions, as well as the proper storage and preservation of the confidentiality of personal data, the Agency urges citizens to be as vigilant as possible, beware and not use services of such platforms, including so as not to become victims of fraud.
“If you have any information regarding the activities of certain persons conducting their activities on the basis of dubious schemes using crypto assets in the territory of the Republic of Uzbekistan, we ask you to inform the law enforcement agencies in the manner prescribed by law,” the agency said.
“Also, if you have information about companies that use crypto assets for illegal purposes or fraud, you can send the relevant information to the Agency at email@example.com,” it added.
Earlier, an informational message was published on the Agency’s website indicating possible signs of dubious projects.
In addition, we remind you that in accordance with the Law of the Republic of Uzbekistan "On licensing, licensing and notification procedures" and the resolution of the President of the Republic of Uzbekistan "On measures to develop the digital economy in the Republic of Uzbekistan" activities in the field of turnover crypto assets, including the creation of crypto exchanges to trade crypto assets, are subject to licensing.