New rules for the implementation of the activities of the crypto stores was adopted

New order "On the assessment of the rules for the implementation of the activities of the crypto store" was adopted (registration No. 3395 of 10/31/2022).

In accordance with the document, the crypto store carries out operations for the purchase and (or) sale of crypto-assets by providing customers with access to the electronic platform and (or) to the trading facility.

For reference: a crypto store is one of the types of service providers in the field of turnover of crypto assets. This type of activity is carried out based on a license issued by the National Agency for Perspective Projects (clause 2 of the Regulations on the procedure for verifying the activities of service providers in the field of crypto assets circulation).

Individuals have the right to carry out operations:

• on the electronic platform of the crypto store:
• for the purchase and (or) sale of crypto-assets for the national currency through bank transfers;
• foreign citizens - for the purchase and (or) sale of crypto-assets for foreign currency through bank transfers;
• at the point of sale:
• for the purchase of crypto-assets for the national currency through bank transfers;
• for the purchase of crypto-assets for national and (or) foreign cash;
• for the sale of crypto-assets exclusively for the national currency.

At the same time, the choice of crypto-assets as an object of acquisition and, accordingly, the consequences of this choice are the risk of the buyer himself.

Crypto stores are prohibited from establishing relationships with:

• minors;
• persons included in the list of persons involved or suspected of participating in terrorist activities or the proliferation of weapons of mass destruction, in accordance with the legislation on combating the legalization of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction.

The document was published in the state language in the National Database of Legislation and entered into force on October 31, 2022.

Source: https://static.norma.uz/doc/doc_6/3395.pdf