The government in Uzbekistan has blocked internet access to unlicensed crypto exchanges based outside of the country, citing a need to protect its citizens from “fraudsters.”
According to a statement published by the government of Uzbekistan, activity on foreign crypto exchanges that provide services to citizens of the country has intensified, without these companies obtaining the necessary license to offer their services there.
Reporting on the news, Russian news agency Sputnik wrote that access to eight overseas crypto exchanges has already been blocked in Uzbekistan, including popular exchanges like Binance, Kraken, FTX, and Huobi Global.
The only foreign crypto exchange to so far obtain a license in Uzbekistan is South Korea’s Kobea Group, which secured its license in 2019, the report said.
The unlicensed companies “have no legal responsibility for transactions with crypto-assets, and cannot guarantee the legitimacy of transactions, as well as the proper storage and protection...
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