Uzbekistan Ramps up Crypto Adoption, Issuing New Regulatory License

• Former foreign minister announces the NAPP’s issuance of a license to Paynet Crypto LLC.
• The regulator’s new move underscores Uzbekistan’s enthusiasm for embracing a new crypto regulatory framework.
• In 2022, the country granted its first two crypto licenses to Crypto Trade Net LLC and Crypto Market LLC.

Vladimir Norov, the former Minister of Foreign Affairs of Uzbekistan shared a Twitter thread earlier today, announcing that the payment platform Paynet Crypto has acquired a license for its crypto activities. As per the tweet, The National Agency for Perspective Projects (NAPP) of the Republic of Uzbekistan has permitted a license for LLC Paynet Crypto, a subsidiary of UZPAYNET LLC, the company behind the Paynet payment system.

The announcement came in accordance with the Central Asian country’s endeavor towards establishing a crypto-…

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