Uzbekistan Legalizes Cryptocurrency

Already this year, by September 1, a bill that legalizes Bitcoin and other digital currencies in the country will be prepared.

President of Uzbekistan Shavkat Mirziyoyev approved the creation of a competence center for distributed registry technologies at the Mirzo Innovation Center Innovation Center.

Its main tasks will be the formation of conditions for using the capabilities of blockchain, increasing the human resources potential and supporting domestic developers in mastering this technology. It is planned that this structure will work as early as June 1, 2018.

The President instructed to begin active developing the sphere of using contactless payment technologies, including using international payment systems, such as PayPal, Alipay, Visa and Mastercard.

Earlier, the representatives of the Central Bank of Uzbekistan negatively spoke in relation to virtual money, calling them an instrument for financing terrorism.

At the same time, Prime Minister Abdulla Aripov, recently in his speech at “Digital Agenda in the Epoch of Globalization” forum in Kazakhstan, spoke in favor of the use of blockchain technology by the Central Asian countries.

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