Uzbekistan fined Binance for operating without a license

Uzbekistan will demand through court that Binance pay a fine of 102 million soms (about $8,200) for operating without a license.
Uzbekistan's National Agency for Prospective Projects (NAPP) should demand the international crypto exchange Binance to pay a court fine for operating in the country without a license, local media quoted the agency's deputy director, Vyacheslav Pak, as saying. will
Binance crypto exchange, where the national agency was fined for possible projects operating without a license in Uzbekistan, refused to pay, so the money will be recovered through the court and the court's decision in this jurisdiction. will be sent to where the crypto exchange is registered.

According to him, NAPP will refer court decisions to the jurisdiction where the crypto exchange is registered through official channels for enforcement.
In January, crypto asset industry regulator NAPP fined Binance 102 million som. Crypto exchanges still need to take steps to license their operations in the republic.

Cryptocurrency can only be sold in the country through private crypto exchanges that are licensed by NAPP. At the same time, electronic systems for cryptocurrency exchange trading must be hosted on servers within the country. From January 1, 2023, citizens and legal entities in Uzbekistan will be able to buy, sell, and exchange crypto-assets only through national service providers.