Uzbekistan issues 14th crypto shop licence as market expands
The National Agency for Prospective Projects has granted a crypto shop operating licence to NAQD-EX, bringing the total number of authorised retail digital asset brokers in Uzbekistan to 14.
The national regulatory body oversees four distinct categories of digital asset service providers: crypto exchanges, mining pools, crypto depositories and crypto shops. With this latest regulatory approval, the Central Asian nation now hosts 22 active platforms across three of those sectors. This figure includes two large-scale exchanges and six dedicated depositories. The agency maintains an entirely separate registry to track licensed mining operations.
Since issuing its first crypto shop authorisation in November 2022, the retail digital asset sector has experienced steady but highly regulated growth. NAQD-EX joins a growing cohort of newly authorised platforms cleared to operate in 2026. This year’s approved entrants already include Crypto Magnat, Asterium and Unex Payments, with the latter securing its operating rights on June 24.
Stringent fees and regulatory suspensions
Operating a legal digital asset retail business in the country requires substantial capital investment and strict adherence to government compliance measures. Authorised platforms must be registered as legal entities resident in Uzbekistan and pay a perpetual licence fee. This initial state duty is set at 3,700 times the base calculating amount.
At the current economic rate of 412,000 som, the mandatory entry fee totals approximately 1.52bn soum. Furthermore, these companies face a recurring monthly operating tariff of 76.22mn soum to maintain their active status.
In exchange for these exclusive operating rights, crypto shops facilitate the legal buying and selling of digital assets while enforcing mandatory know-your-customer protocols. Retail clients must present government-issued identification, a social security number and verified contact information before they can execute any transactions.
Despite the influx of new market entrants, the regulatory agency actively disciplines operators that fail to meet its standards. Several established trading platforms faced severe six-month suspensions earlier this year.
The agency halted retail operations for Crypto Market on March 1, followed by Cryptocorp, C-Cash and T-Firm on April 1. Crypto Express received a similar half-year suspension starting June 1. Conversely, Paynet Crypto served a brief 10-day restriction in late April and has since resumed standard operations.
