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The National Agency for Perspective Projects of Uzbekistan has reached an agreement with the cryptocurrency exchange Binance to provide services to clients in Uzbekistan through a local partner, resolving the issue of servicing users (residents) of the Republic of Uzbekistan by one of the world’s largest cryptocurrency exchanges, according to the agency’s statement.
In Uzbekistan, Binance will operate through its local partner, Coinpay, which is an official service provider in the cryptocurrency sector. Coinpay holds licenses for running both a cryptocurrency exchange and a crypto marketplace.
Residents of Uzbekistan will be able to access the Binance platform through Coinpay’s services. Additionally, users will have the option to deposit and withdraw funds in the national currency using bank cards and national payment systems.
The launch of the system is expected after the integration of all platform modules, including those with national payment systems. Further announcements regarding the system’s launch will be made through the official channels of Coinpay and Binance.
In January 2024, the agency imposed a fine on Binance for violating Uzbekistan’s cryptocurrency regulations, which led to a lawsuit filed in the Tashkent City Court. After judicial proceedings from March 26 to June 7, 2024, the court ruled in favor of the agency, ordering Binance to pay a fine of 300 basic calculation units, which Binance complied with by settling the fine.
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Exciting news for cryptocurrency enthusiasts in Uzbekistan! Binance, one of the world’s largest cryptocurrency exchanges, is set to enter the Uzbek market. This move is expected to provide local traders with access to a wide range of digital assets and trading pairs, as well as advanced trading features and security measures.
With the growing popularity of cryptocurrencies in Uzbekistan, the arrival of Binance is sure to further fuel the adoption of digital assets in the country. The exchange’s reputation for reliability and user-friendly interface is expected to attract a large number of traders and investors looking to buy, sell, and trade cryptocurrencies.
As Binance continues to expand its global presence, its entry into the Uzbek market is a significant milestone that will undoubtedly benefit the local cryptocurrency community. Stay tuned for more updates on this exciting development!
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