Uzbekistan | Crypto

Uzbekistan has created a supervised crypto mining zone in Karakalpakstan, allowing foreign sales while requiring proceeds to flow through local bank accounts. Uzbekistan has created a special crypto mining zone across Karakalpakstan under a presidential resolution signed on Friday, opening a supervised framework that lets approved mining companies sell mined digital assets on foreign platforms while keeping the proceeds inside the country’s banking system. A presidential decree effective Monday creates the “Besqala Mining Valley,” a special mining zone across the Republic of Karakalpakstan, where registered legal entities can carry out crypto mining, use a mix of power sources and apply for resident status through a new directorate under the republic’s Council of Ministers. The framework gives miners in the zone the right to sell crypto assets obtained through mining on national crypto exchanges or foreign platforms, including through direct contracts, and to exchange them for other liquid crypto assets. Stil...

Uzbekistan will reportedly roll out stablecoins as an official payment method from Jan. 1, 2026, under a new regulatory sandbox that also enables tokenized securities trading. Uzbekistan is moving to bring stablecoins into its formal payment system, starting with a tightly controlled developmental sandbox, according to local media. According to a Friday report by local news outlet Kun, Uzbekistan’s new stablecoin regulatory framework will come into force on Jan. 1, 2026. The new law, signed on Thursday, establishes a regulatory sandbox under the purview of the National Agency for Perspective Projects, together with the central bank. Pilot projects are expected to be implemented to develop a stablecoin-based payment system operating on distributed ledger technology. Starting next year, Uzbekistan-based entities will be allowed to issue tokenized shares and bonds, and a separate trading platform will be created on licensed stock exchanges for these assets. Read more