Uzbekistan Expands Cryptocurrency Infrastructure with Third Depository
Uzbekistan has registered its third cryptocurrency depository, Japan Dxt, in a joint Uzbek-Japanese venture. This new depository has been granted official permission to issue, place, and store virtual coins, further solidifying the financial and legal framework for cryptocurrency operations in the country.
Key Role of Cryptocurrency Depositories
Japan Dxt joins existing depositories Lockton Hub and Paynet Crypto in managing and securing cryptocurrency assets in Uzbekistan. These depositories are essential for maintaining trust among investors and users in the cryptocurrency market, ensuring the security of digital assets.
Growing Interest in Digital Assets
Uzbekistan now boasts two legal cryptocurrency exchanges and ten cryptocurrency exchangers, signaling a rising interest in digital assets. Proper regulation, highlighted by recent measures taken by authorities, is crucial to the growth of the cryptocurrency sector. The National Agency of Promising Projects (NAPP) aims to enhance transparency, accountability, and regulation in cryptocurrency operations by increasing fees for trading platforms operating within the country.
