Uzbekistan Levies Penalty on Binance for Unauthorized Operations

Uzbekistan Levies Penalty on Binance for Unauthorized Operations



In a legal move, Uzbekistan is set to pursue a court order compelling Binance to settle a fine of approximately 102 million soms, or $8,200, for conducting business without the requisite licensing.



Uzbekistan's National Agency for Prospective Projects (NAPP) plans to initiate legal proceedings against the global cryptocurrency exchange Binance for operating without official authorization within the nation, according to statements made by Vyacheslav Pak, the agency's deputy director, as reported by local news outlets.



Despite being penalized by NAPP for its unauthorized operations in Uzbekistan, Binance has declined to pay the fine. Consequently, the agency aims to enforce the payment through legal channels, based on the ruling that will be issued and forwarded to the legal jurisdiction of Binance's registration.



Vyacheslav Pak


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#Binance, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations, #Uzbekistan

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