Uzbekistan Determined To Regulate Cryptocurrency After September 2018

Uzbekistan will issue its plans to regulate Bitcoin in September 2018, with a Blockchain “skill center” set to begin operating in July, local news outlet Vzglyad reported Feb. 21.

According to local news, the country’s president Shavkat Mirziyoyev authorized plans for a document delineating regulatory plans for Bitcoin, cryptocurrency and Blockchain technology.

The statutory proposals will come courtesy of a number of government ministries and the central bank, as well as various other authorities.

Cryptocurrency regulation is a hot topic for former Soviet bloc states this year. Neighboring Kazakhstan last year signaled its desire to copy Singapore’s Blockchain progressiveness, while Belarus has also announced it wishes to create a hospitable environment for the innovative financial technology.

The dedicated Blockchain skill center will be hosted the Mirzo Ulugbek Innovation Center in the Uzbek capital Tashkent.

On the agenda, sources report, will be “formulating conditions for the use of Blockchain’s potential, increasing professional ability and supporting native developers in its uptake.”

The center is due to begin its official activities on July 1.