Uzbekistan Tightens Crypto Grip with New Regulations

Uzbekistan's crypto regulations have seen significant changes in 2026. The National Agency for Perspective Projects (NAPP) now oversees almost the entire crypto sector, having taken over from multiple agencies.

The NAPP has introduced rules for stablecoins, allowing them to be used as legal payment instruments through a joint sandbox with the Central Bank of Uzbekistan (CBU). Resident companies can also issue tokenized shares and bonds under this framework.

Tokenized securities have become a new area of focus in Uzbekistan's crypto landscape. A $50 million venture fund has been established by the Central Bank to support the growth of the fintech industry, aiming for nearly 200 companies by the end of 2026.