The government in Uzbekistan has blocked internet access to unlicensed cryptocurrency exchanges based outside the country, citing the need to protect its citizens from “scammers”.
According to a statement published by the government of Uzbekistan, activity on foreign cryptocurrency exchanges that provide services to the country’s citizens has increased, without which these companies have not obtained the necessary licenses to operate. offer their services there.
Reporting on this news, Russian news outlet Sputnik wrote that access to eight overseas cryptocurrency exchanges has been blocked in Uzbekistan, including popular exchanges like Binance, Kraken, FTX, and Huobi Global.
The only foreign crypto exchange to date to obtain a license in Uzbekistan is the Korean Kobea Group, which secured its license in 2019, the report said.
A statement from the National Agency for Perspective Projects (NAPP) warns.
As a result, access to these companies’ websites has now been blocked, the statement said. Blocked internet access applies to all cryptocurrency exchanges that are “unlicensed” to operate exchanges under Uzbek law.
Starting January 1, 2023, individuals and companies in Uzbekistan will instead be able to interact with cryptocurrencies through local service providers operating under local regulations, the statement said. added.
The government continues to warn its citizens about the dangers of using foreign cryptocurrency trading platforms, says they should be vigilant to ensure personal data is not leaked to “fraudsters”. It added that anyone who knows of the companies operating in violation of the regulations should report them to the police.