Uzbekistan warns citizens over unregistered crypto firms

The regulators of Uzbekistan released an alert notification for their citizens to remain away from unlicensed & unregistered crypto exchanges. 

In the present time, Uzbekistan is showing a very positive and friendly attitude toward the crypto industry and they are allowing crypto businesses to generate huge opportunities for the country. Under this rush of adoption, there are many crypto firms which are violating laws and regulations imposed by the Uzbekistan regulators.

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Uzbekistan’s regulators released a notification and urged their citizens to not to go with those crypto platforms which are unregistered, unregulated and have no any kind of approval from the regulatory body of Uzbekistan. Authorities confirmed that there are around half dozen crypto exchanges which are providing crypto services without any license or approval for Uzbekistan regulators. 

So Uzbekistan authorities alerted the citizens to remain away from such unregistered platforms. Regulators specially mentioned four platforms which are unauthorised right now. These platforms are webmoneytashkent.com, wmztashkent.com, and bitcointashkent.com.

In addition to an alert list of crypto exchanges, regulators warned people and suggested to remain active against the frauds, that happen through the anonymous Social media platforms, to avoid being a victim of any fraud activity.

“The Agency urges citizens to be as vigilant as possible, and not use services of such platforms, so as not to become victims of fraud.”

Uzbekistan is much aware about the potential of the crypto industry. Regulators of Uzbekistan imposed many frameworks and are still making improvements in their rules and regulations to make the crypto ecosystem better and free from any kind of fraud activities for their citizens, since 2018. 

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