Kokand crypto trading suspects detained in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — Authorities in the city of Kokand in Uzbekistan’s Ferghana region have detained individuals suspected of illegal circulation of crypto assets, according to the press service of the regional internal affairs department.

In the first case, it was established that a local resident registered on cryptocurrency exchanges and carried out crypto asset exchange operations starting from April 2024. The total volume of transactions amounted to 1 billion 90.6 million Uzbek soums. A pre-investigation inquiry has been initiated against him.

In the second case, another resident of Kokand was detained during an operational measure. According to investigators, he conducted transactions involving crypto assets totaling the equivalent of 12.5 billion soums.

A criminal case has been opened under paragraph “a” of part 3 of Article 278-8 of the Criminal Code of the Republic of Uzbekistan, which covers violations of legislation in the field of crypto asset circulation. An investigation is ongoing.