BestChange.ru exchanger aggregator gets unblocked in Uzbekistan

In August 2022, Uzbekistani authorities started to mass block cryptocurrency exchanges and exchange offices that did not have a license to buy or sell cryptocurrencies, issued by the National Agency of Perspective Projects (NAPP) regulating this area. Among blocked ones, there were such giants of crypto business as Binance and FTX, as well as a famous exchanger generator BestChange.ru.

According to NAPP representatives, the blocking occurred on the basis of a decree of the President of Uzbekistan, issued back in 2018. As per this decree, from January 1, 2023, citizens and companies-residents of Uzbekistan will be able to purchase, sell and exchange crypto assets only through local providers, meanwhile, BEFORE this date one cannot sell crypto through foreign platforms either.

In a nutshell, a paradox occurred — there are practically no local platforms for purchasing and exchanging cryptocurrency (with the only exception of the government-controlled UzNEX exchange).

After a number of requests by the DRC company, representing the interests of BestChange, the management of NAPP, regulating the crypto sphere in the Republic, managed to pay attention to the reasoning that the activity of the monitor resource falls under an exception and its work must not be limited.

As a result, on October 21, a decision was ruled out about exclusion of two platforms for exchanging cryptocurrency from the registry of forbidden resources. BestChange was among them.

“We are very glad that the National Agency of Perspective Projects which currently curates this sphere, is maximally open to a dialogue and does what it takes to make sure that Uzbekistan, alongside Kazakhstan, becomes a fin-tech driver in the Central Asian region. Both countries are now taking leaps and bounds in terms of legalizing crypto and integrating it into the digital economy,” noted Sarkis Darbinyan, managing partner of DRC.