ChainCatcher news, Tether today announced the signing of a Memorandum of Understanding (MOU) with the National Prospects Project Agency (NAPP), which is responsible for cryptocurrency regulation and development in the Republic of Uzbekistan. This strategic collaboration aims to position Uzbekistan as a central hub for peer-to-peer and blockchain technology, triggering a revolution in innovation and economic growth.Tether CEO Paolo Ardoino stated: "We are excited to collaborate with the National Prospects Agency (NAPP) of the Republic of Uzbekistan to explore the immense potential of blockchain, stablecoins, and peer-to-peer telecommunications technology in Uzbekistan. This partnership reflects Tether's commitment to promoting innovation and responsible development in the global digital asset ecosystem."

ChainCatcher news, according to Forklog, the President of Uzbekistan has signed a legislative amendment that includes mining licenses. The statement claims that the law has been supplemented and amended to establish new types and subtypes of permissible activities (cryptocurrency exchanges, mining pools, cryptocurrency storage, and cryptocurrency shops) and mining activities.The National Agency for Project Management (NAPP) will be responsible for issuing licenses for activities related to crypto assets. Legal entities must pay national taxes and fees to obtain a license. As a cryptocurrency service provider, the fine for operating without a license is 300 BRV (approximately 8,150 USD), while the fine for unlicensed mining activities is 150 BRV (approximately 4,075 USD).

ChainCatcher news, the National Project Office (NAPP) under the leadership of the President of Uzbekistan has recently issued a new regulation that outlines the procedures for the issuance, registration, and circulation of crypto assets in the country. The aim of this move is to create a new mechanism for commercial entities, allowing local companies to attract funds through coins and tokens.The document provides a basic legal definition of crypto assets and distinguishes between different types. It introduces requirements for cryptocurrency issuers, custodians, and trustees, and specifies their obligations. The agency has also approved the rules for establishing and maintaining an electronic register of crypto assets and has passed accounting standards that safeguard the rights related to crypto assets and their holders.Cryptocurrency custodians will be responsible for providing services related to the issuance, registration, circulation, and storage of cryptocurrency assets. NAPP stated that issuers can use them or other electronic platforms, and noted that the face value of coins must be expressed only in the national fiat currency, namely the Uzbek Som.NAPP emphasized that the issuance of unsecured tokens is prohibited. The use of terms such as "national," "state guarantee," "state support," "Uzbekistan," "Uzbek," "country," and "Som" in the names of cryptocurrencies is forbidden. NAPP further warned against engaging in any unauthorized activities related to the circulation of crypto assets in the country or using services from unlicensed providers, which also applies to companies participating in cryptocurrency mining. (source link)

According to ChainCatcher news and a report by CoinDesk, an official document released on Wednesday shows that Uzbekistan now requires licensed cryptocurrency companies in the country to pay monthly fees, which are primarily used for the national budget.The new rules established by the National Project Office of the Republic of Uzbekistan, the Ministry of Finance, and the State Tax Committee have come into effect. The document states that the amount a company must pay each month depends on the type of services it provides and the base amount set for cryptocurrency companies at the time of monthly payment. The document also lists proportionally smaller payments required for cryptocurrency stores, custody services, mining pools, and individual miners. (source link)