In Uzbekistan, the licensing rules for service providers in crypto-asset trading have been significantly tightened. The relevant amendments to the regulations were approved by the director of the National Agency for Prospective Projects (NPRA), Dmitry Lee. The new regulations introduce additional harmonization procedures that are now mandatory for crypto-bureaus and specialty shops.

According to the updated requirements, crypto-providers are required to obtain prior authorization from the licensing authority for the sale of shares in their registered capital. This rule applies to both natural and legal persons, including non-residents. In addition, companies' personnel policies have come under strict scrutiny: any replacement of top management, including the director, his deputies and the head of the anti-money laundering (AML) and terrorism financing unit, now requires separate coordination with the regulator.

Special attention is paid to international security issues. The regulator has prohibited the operation of crypto-providers by persons who are resident or registered in states that do not cooperate with the global community in combating money laundering, terrorism and proliferation of weapons of mass destruction.

All applications for the approval of such deals or personnel reshuffles will be processed on an expedited basis within 10 business days. At the same time, the state would not impose fees on application and decision-making, which should make it easier for legal players to adapt to new realities.