Tether Partners with Uzbekistan for Digital Asset Regulation
Tether Limited, a stablecoin issuer, has teamed up with the National Agency of Perspective Projects (NAPP) in Uzbekistan to establish a regulatory framework for digital assets, according to a press release on March 7.
NAPP, responsible for overseeing crypto regulation, will collaborate closely with Tether Limited in this endeavor.
The partnership aims to position Uzbekistan as a key player in blockchain and telecommunications technologies, driving innovation and economic development in the region.
Key objectives include creating a supportive legal environment for crypto growth, exploring digital currency adoption, and enhancing payment infrastructure for smoother transactions.
Educational programs will also be developed to increase understanding of blockchain and stablecoins, empowering individuals to navigate the evolving digital asset landscape.
The collaboration reflects Uzbekistan’s ambition to lead in blockchain technology globally, attracting tech firms and professionals to the region.
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Efforts to regulate the digital assets industry began in 2022, culminating in the establishment of NAPP, with subsequent steps taken to integrate digital assets into the economy.
While Uzbekistan recognizes crypto, it is not considered legal tender. Trading is restricted to licensed virtual asset service providers, with a special economic zone offering incentives for crypto-related investments.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
