Main Takeaways
We are excited to announce that Binance has reached an agreement with the National Agency of Perspective Projects of the Republic of Uzbekistan (NAPP), which confirms compliance with all applicable local regulatory requirements and authorizes the platform to provide services to Uzbekistani residents under a licensed framework.
Simplifying Access for Users
Binance will operate in Uzbekistan on a crypto exchange license No CE#0004 issued to COINPAY LLC, with access through the entity’s official website, coinpay.uz. Users will be able to deposit and withdraw funds in the national currency through local payment systems, which greatly simplifies these operations.
Committed to complying with local laws and regulations in each country where we operate, we strive to create a safe, regulated environment that promotes the development of the crypto and drives value for users.
“Reaching an agreement with Uzbekistan’s regulator is a significant milestone for Binance. It highlights our dedication to working closely with local authorities to ensure full regulatory compliance and create a safe and innovative environment for cryptocurrencies and blockchain technologies globally. We are excited to continue our operations in Uzbekistan and contribute to the growth and development of the crypto industry in the region,” said Kyrylo Khomyakov, Binance’s Regional Head for Central and Eastern Europe, Central Asia, and Africa.
Building Uzbekistan’s Сrypto-Asset Sector
The National Agency for Perspective Projects of Uzbekistan (NAPP) is a government body that regulates and licenses activities related to crypto assets, capital markets, insurance and e-commerce. Its mission is to create a global-standard market that protects investors and attracts capital to boost the economy and citizens’ welfare. NAPP works with experts to adapt to global economic changes and promotes open dialogue with stakeholders, aiming to remove bureaucratic obstacles and address sector issues efficiently. The agency reports directly to the President of Uzbekistan.
Our partnership with COINPAY LLC marks an important step in building a regulated ecosystem for crypto assets in Uzbekistan, providing users with secure and compliant tools for cryptocurrency trading and investment.
Further Reading
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Strengthening Security and Transparency: Binance Secures SOC 2 Type 2 and SOC 1 Type 1 Certifications
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Binance Kazakhstan: First Digital-Asset Platform to Obtain AFSA Consent for Full Regulatory License
