Binance has received authorization from Uzbekistan's National Agency of Perspective Projects (NAPP) to offer its services in the country. This agreement allows Binance to operate under a crypto exchange license issued to COINPAY LLC, facilitating deposits and withdrawals in the national currency through local payment systems.
The collaboration emphasizes Binance's commitment to regulatory compliance and fostering a secure environment for the growth of the crypto industry in Uzbekistan. "Reaching an agreement with Uzbekistan’s regulator is a significant milestone for Binance," said Kyrylo Khomyakov, Binance’s Regional Head for Central and Eastern Europe, Central Asia, and Africa.
The NAPP is responsible for regulating activities related to crypto assets in Uzbekistan. It aims to create a market that protects investors and attracts capital, reporting directly to the President of Uzbekistan.
This partnership marks an important step in establishing a regulated ecosystem for crypto assets in Uzbekistan, providing users with secure tools for cryptocurrency trading and investment.