Uzbekistan Bans Citizens From Buying Cryptocurrencies

The government of Uzbekistan has reportedly barred its citizens from purchasing cryptocurrencies.

According to local news outlet Novosti Uzbekistana on Dec. 25, the National Project Management Agency has banned citizens from purchasing crypto, even on established exchanges. 

The decision comes as a surprise to many, as the country has previously displayed a relatively lenient stance toward digital currencies. 

In September 2018, the country’s government signed a memorandum of understanding to regulate and establish licensing for crypto exchanges, mining operations and initial coin offerings.

That same month, Uzbek President Shavkat Mirziyoyev ordered the establishment of a state blockchain development fund called the “Digital Trust.” In July last year, he also signed a decree on the development and integration of blockchain technology into the country’s public administration. 

Some exclusions for current crypto holders

While the new regulation bars citizens from acquiring or…