Cryptocurrency trading rules are set

By the order of the director of the National Agency for Prospective Projects dated 15 August of the current year, the rules for trading crypto-assets on the Crypto-Exchange were approved.

The regulation defines the following:

• the procedure for establishing relations with clients;
• the procedure for the organization of crypto-asset trades;
• the procedure for concluding transactions with clients based on intermediary relations;
• the procedure for carrying out settlement-clearing operations on the crypto-exchange;
• stop providing clearing services.

Funds and crypto-assets of crypto-exchange customers are accounted for and stored separately from funds and crypto-assets of the crypto-exchange.  After the mandatory identification of the participants of the trades, they are allowed to carry out operations through the electronic platform of the crypto exchange.

The crypto exchange carries out constant control over transactions related to the trading of crypto-assets.  When it is discovered that the crypto-exchange has violated the legal documents and these rules, measures must taken to stop and prevent them from repeating in the future.

Residents of Uzbekistan on the electronic platform of the crypto-exchange have right to:

• implementation of all types of crypto-asset trades with crypto-assets on the crypto-exchange in national currency, including transactions aimed at the sale and purchase of crypto-assets directly on the trading platform;

• to carry out operations related to the sale of crypto-assets with non-residents of Uzbekistan only in foreign currency;

• to choose crypto-assets as the object of purchase, and the relevant consequences of this choice are the buyer's own risk.

Crypto-assets obtained by residents of Uzbekistan as a result of the exchange of non-convertible tokens on foreign crypto-exchanges and sites are implemented in the established order on electronic platforms of providers of services in the sphere of circulation of crypto-assets, registered in the territory of Uzbekistan.

Issuance and registration of stable tokens on crypto exchanges, issuance of unsecured tokens for the purpose of placing the initial offer of tokens, registration of issue, placement, and circulation are prohibited.  The Crypto Exchange establishes relations with clients on the basis of a contract.