Tashkent, Uzbekistan (UzDaily.com) -- Representatives of the National Agency for Prospective Projects of the Republic of Uzbekistan took part in the “Pioneering Progress” summit (Tbilisi, Georgia), dedicated to the issues of digital finance, regulatory dynamics, artificial intelligence and the sustainability of telecommunication technologies.

Representatives of government agencies and the private sector from Switzerland, Kazakhstan, Georgia, Azerbaijan and other countries took part in the summit.

In particular, the Deputy Minister of Economy and Sustainable Development of Georgia G. Arveladze and the Acting Chairman of the National Bank of Georgia N. Turnava, the Chief Executive Officer of the Tether company Paolo Ardonio, as well as representatives of large crypto companies spoke at the summit.

The panel discussions discussed the implementation and use of stable tokens, artificial intelligence, telecommunications technologies, as well as regulation of the crypto-asset market.

It should be noted that the summit participants were particularly interested in the experience of regulating the circulation of crypto-assets in the Republic of Uzbekistan, presented by the Agency’s delegation.

The experience of Uzbekistan was highly appreciated by all participants of the summit, while international experts specifically noted that among the CIS countries, Uzbekistan is a leader in the development of the crypto industry in many respects. In particular, it was emphasized that in Uzbekistan a legislative framework has been formed in the field of circulation of crypto-assets, interaction has been established between banks and crypto-companies, which creates great potential for the development of the crypto-industry.

In March 2024, a Memorandum of Understanding was signed between the National Agency for Prospective Projects of the Republic of Uzbekistan and Tether. According to the document, the parties will cooperate in the development of blockchain technology, stable tokens and tokenization of assets in Uzbekistan, as well as stimulating economic growth and innovation in the country.