Uzbekistan Authorities Fine Bitcoin Exchange Binance
The National Agency of the Republic of Uzbekistan for Advanced Projects announced violations by the Binance exchange, as reported by ForkLog.
Guided by the rules of licensing in the field of crypto assets, the agency identified several violations:
- Providing services related to crypto asset transactions for citizens of the Republic of Uzbekistan.
- Transactions with anonymous cryptocurrencies and funds of criminal origin.
- Lack of legal entity-resident status of the Republic of Uzbekistan for the company.
- Failure to comply with legislative requirements for the turnover of crypto assets, combating money laundering, and financing of terrorism.
- Absence of information on the exclusion from management of individuals mentioned in paragraph 9 of the Regulations.
- Presence of companies registered in offshore zones.
- Lack of a statutory fund, part of which should be reserved in a bank of the Republic of Uzbekistan.
According to the document, the Agency imposed a fine on Binance in the amount of 300 basic calculation units, about which it informed the exchange and its regulator.
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