Changes and additions have been made to the procedure for licensing the activities of service providers in the field of crypto-asset turnover
Tashkent, Uzbekistan (UzDaily.com) -- The National Agency for Prospective Projects of the Republic of Uzbekistan is constantly working to improve the system for regulating the circulation of crypto-assets, taking into account international requirements and national legislation.
In particular, in pursuance of the requirements stipulated by the Law of the Republic of Uzbekistan “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan” and Recommendation 15 of the Financial Action Task Force on Money Laundering (FATF), by order of the Director Agency “On Amendments and Additions to the Regulations on the Procedure for Licensing the Activities of Service Providers in the Sphere of Circulation of Crypto-Assets”, amendments and additions were made to the Regulations on the Procedure for Licensing the Activities of Service Providers in the Sphere of Circulation of Crypto-Assets.
The amendments envisage:
requirements for affixing an apostille or legalization and a notarized translation into the state language of a certificate received from the relevant authorized body of a foreign state about the absence of a criminal record for the crimes specified in subparagraph “h” of paragraph 9 of Regulations;
additional grounds for refusal to issue a license;
rules prohibiting the issuance of a license in cases of systematic (two or more times within one year) or one-time gross violation by the licensee of licensing requirements and conditions, as well as the establishment of the fact of obtaining a license using forged documents.
These changes will come into force three months from the date of official publication.