Binance has announced an agreement with Uzbekistan’s National Agency for Perspective Projects (NAPP), allowing the platform to offer its services under a fully licensed framework. The move confirms Binance’s compliance with Uzbekistan’s local regulations and reinforces its commitment to operating within legal frameworks worldwide.
Binance will operate in Uzbekistan under crypto exchange license No CE#0004, issued to COINPAY LLC. Users can access the platform through coinpay.uz, where they will be able to deposit and withdraw funds in the national currency via local payment systems, streamlining operations for residents.
A Step Toward Regulatory Compliance
Kyrylo Khomyakov, Binance’s Regional Head for Central and Eastern Europe, Central Asia, and Africa, emphasized the importance of this milestone:
“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.”
Binance’s entry into Uzbekistan aligns with its broader mission of fostering a regulated and secure environment for cryptocurrency trading and blockchain development worldwide.
The NAPP, a key regulatory body in Uzbekistan, oversees activities related to crypto assets, capital markets, insurance, and e-commerce. The agency’s mission is to create a market that meets global standards, safeguards investors, and drives economic growth. Reporting directly to the President of Uzbekistan, the NAPP collaborates with stakeholders to address industry challenges and streamline processes.
A Boost for Uzbekistan’s Crypto Ecosystem
Through its partnership with COINPAY LLC, Binance aims to build a regulated ecosystem for crypto trading in Uzbekistan. By providing secure and compliant tools, Binance and NAPP are working together to support the growth of the crypto-asset sector in the country.
