Binance announced a key agreement with Uzbekistan’s National Agency of Perspective Projects, which will enable the exchange to finally offer its services under a licensed framework, a major milestone in its regulatory journey.
Operating under the license No. CE#0004 provided by COINPAY LLC, Binance will be available at coinpay.uz. It finally became possible to deposit and withdraw funds in the national currency of Uzbekistan with local payment systems. This finally brings more comfort and ease to the residents of this country.
Binance commitment to regulatory compliance
Binance’s Regional Head, Kyrylo Khomyakov, called this development a key achievement. He said:
It highlights our dedication to working closely with local authorities to ensure full regulatory compliance and create a safe and innovative global environment for cryptocurrencies and blockchain technologies.
The NAPP is a governmental body that regulates the licensing and regulation of crypto-related activities. It aspires to a competitive market with security, in line with international standards. The NAPP cuts the red tape for a dynamic ecosystem, attractive to investment, and safe for users.
Collaboration with COINPAY LLC is a joint move toward creating conditions for compliant and safe crypto trading in Uzbekistan. The deal also marks that the platform, though committed to supporting blockchain innovation, is set to conform to the local legislation.
