Uzbekistan Tightens Control Over Cryptocurrencies

Uzbekistan has updated its internal control rules for participants in the cryptocurrency market, focusing on combating money laundering, financing terrorism, and the proliferation of weapons of mass destruction. A joint resolution by the National Agency for Prospective Projects and the Department for Combating Economic Crimes was registered on September 28, 2026, and will come into force upon official publication. The amendments concern customer verification and clarify how service providers should build control systems. Requirements for identifying suspicious transactions and interacting with supervisory authorities have been updated. The main goal of the changes is to strengthen the system for countering the legalization of criminal proceeds and to align local regulations with international standards. This is expected to reduce the risk of using crypto services in illegal schemes. The tightening of control occurs against the backdrop of other initiatives, including a pilot project for the Humo stablecoin, backed by government securities. A Binance survey showed that 30.2% of respondents consider a lack of knowledge the main barrier to participating in the cryptocurrency market. The central bank is also preparing to launch a digital som by the end of 2029, with a feasibility assessment due by the end of 2027.

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