Uzbekistan to legalize bitcoin and electronic money[↻70%]

A draft law providing for measures for the legal regulation of electronic money should be prepared in Uzbekistan before September 1 this year.

In addition, the President of the Republic Shavkat Mirziyoyev approved the creation of the competence center for distributed registry technologies (blockchain) at the Mirzo Ulugbek Innovation Center.

Its main objectives will be to create conditions for the use of blockchain capabilities, increase human resources and support domestic developers in the development of this technology. It is planned that this structure will work from June 1, 2018.

The President also instructed to begin active development and stimulation of the widespread use of contactless payment technologies, including the use of international payment systems such as PayPal, Alipay, Visa and Mastercard. A set of measures in this direction will be developed by June 1, 2018.