Binance will launch its operations in Uzbekistan through a local partner.

Uzbekistan, Tashkent – According to AN Podrobno.uz, the National Agency for Advanced Projects has addressed issues pertaining to the operations of the cryptocurrency exchange Binance in Uzbekistan, as reported by a Podrobno.uz correspondent.

https://podrobno.uz/cat/economic/binance-nachnet-rabotat-v-uzbekistane-cherez-lokalnogo-partnera/2025-01-18 08:12:39

Now, residents of the republic will be able to access the platform's services through a local partner – the company Coinpay. The website coinpay.uz will be used for deposits and withdrawals via bank cards from the national payment systems Uzcard and Humo.

It is expected that the system will commence operations after the integration of modules between the platforms is completed. Announcements regarding the service's readiness will be made on the official websites of Binance and Coinpay.

The agency reminded that since January 2023, residents of Uzbekistan can conduct operations with crypto assets only through national service providers. Citizens were also warned about potential risks associated with purchasing cryptocurrencies and were urged to consider the consequences of such decisions.

As a reminder, in January 2024, the agency imposed a fine on the cryptocurrency exchange Binance for violating Uzbekistan's legislation regarding crypto asset circulation, filing a lawsuit. The case was reviewed from March to June and concluded with a favorable ruling for the National Agency for Project Development (NAPD). The exchange paid a fine amounting to 300 basic calculation units, transferring the funds to the state budget.