Crypto Regulation in Uzbekistan: What You Need to Know in 2026

Uzbekistan is one of the few countries in the region to build a dedicated regulatory framework for crypto assets rather than banning or ignoring them. For founders, exchanges and investors, that clarity is the whole point — you can operate legally, with licensing, tax treatment and consumer protections defined in advance. This overview explains how the system works in practice in 2026.

NAPP: a dedicated regulator, not a grey zone

Crypto in Uzbekistan is overseen by the National Agency of Perspective Projects (NAPP), a body that reports directly to the President. Rather than leaving digital assets to a patchwork of existing financial laws, NAPP licenses and supervises the whole sector — exchanges, crypto-stores, custody providers and mining pools all fall under its remit. The effect is that a licensed platform operates with the kind of legal certainty a fintech would expect in a mature market.

Crucially, crypto assets are legally classified as property, not as legal tender — they are not an official means of payment. And since 1 January 2023, residents must transact only through locally licensed providers rather than foreign platforms.

Licensing for exchanges and service providers

Operating a crypto exchange, a crypto-store (buy/sell service) or a mining pool requires a NAPP licence. Conditions cover capital requirements, local incorporation, KYC/AML procedures and the use of designated banking channels. For international platforms this means market entry is a defined process with a clear endpoint — a real advantage over jurisdictions where the legal status of exchanges is ambiguous. The framework was concrete enough that Binance entered the Uzbek market, and the country issued its first crypto-mining permit to a licensed local operator based in the Bukhara region.

The 2026 stablecoin reform

The most significant recent change is a Presidential Resolution of 27 November 2025 (No. RP-359) that introduced a special legal regime for stablecoins and the tokenisation of securities, effective 1 January 2026. For the first time, stablecoins can be used as a limited and controlled payment instrument inside the formal financial system — a notable shift from the earlier stance that excluded crypto from payment functions entirely. It's a large part of why stablecoins and payments are among the region's most active use cases.

How crypto is taxed

This is Uzbekistan's headline attraction — and the fastest-moving part of the picture. As of 2026, crypto operations carried out through NAPP-licensed platforms are tax-exempt for both individuals and legal entities, including non-residents. Income from trading, mining, staking and airdrops has not been taxed, and crypto activity has been exempt from VAT, wealth, inheritance and customs duties.

However, this is explicitly transitional. The Budget Memorandum for 2025–2027 has tasked NAPP and the Ministry of Finance with designing a gradual tax model, with a target of the fourth quarter of 2026. Proposals under discussion include a flat capital-gains tax on retail trades and a corporate levy on service-provider income. In short: the 0% regime is real today, but treat it as a window that is expected to narrow — confirm the current rate before you rely on it.

Why this matters for the region

Regulatory clarity is a magnet. Capital and talent move toward jurisdictions where the rules are knowable, and Uzbekistan's approach has helped position it as a serious contender for Central Asia's digital-asset hub. That regulatory story is a large part of why the region is drawing global attention — a theme we explore in our piece on why Central Asia is crypto's next frontier.

Regulation is also a headline track at Median26 itself. The agenda includes a dedicated Regulation Stage where policymakers and legal experts discuss digital-asset rules across the region — see the full summit agenda.