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Tuesday , September 14th 2021

20:46 Uzbekistan has no plans to ease crypto payments ban, says official

Cointelegraph reported that the Republic of Uzbekistan will never adopt cryptocurrencies like Bitcoin (BTC) as a payment method, according to a central bank official.
Behzod Khamraev, deputy chairman of the Central Bank of Uzbekistan (CBU), predicted that local authorities will never allow residents to use Bitcoin as payment, alleging that BTC is backed by nothing.
In an interview with local business publication Spot.uz, Khamraev argued that Bitcoin is widely considered “speculative” and will never become equal to fiat currencies like the United States dollar, the euro, the Japanese yen or the Russian ruble.
Uzbekistan officially banned its residents from making payments in cryptocurrencies like Bitcoin in late 2019 as part of an order of the director of the National Agency for Project Management (NAPM) under the president of the Republic of Uzbekistan.