Namangan resident detained over illegal cryptocurrency transactions worth nearly UZS 1 billion

Law enforcement authorities in Uzbekistan have detained a young man in Namangan region on suspicion of conducting illegal cryptocurrency transactions worth nearly UZS 1 billion through the Binance platform.

According to officials, the case was uncovered during the “Safe and Healthy Country” operational and preventive campaign.

Authorities identified a resident of Norin district in Namangan region who had been engaged in cryptocurrency activities without the required license.

Investigators determined that the suspect, born in 2003, conducted cryptocurrency trading through the Binance platform without obtaining official authorization.

In total, the individual carried out 119 illegal transactions involving crypto assets valued at UZS 982,367,000.

A criminal case has been initiated under Article 278-8, Part 3(a) of the Criminal Code, which concerns violations of legislation regulating the circulation of crypto assets.

Investigative actions are currently underway.