Uzbekistan allows foreign businesses to open local bank accounts and deposit funds obtained from crypto transactions, but the funds have restrictions

The Central Bank of Uzbekistan has allowed foreign businesses to open accounts at local banks and deposit funds obtained from cryptocurrency transactions, Uzbekistan legal portal Norma reported. These funds can be transferred to an exchange to repurchase digital coins, or to an account of a foreign-registered entity in the jurisdiction from which the funds originally originated. However, Uzbekistan prohibits the use of these funds for other purposes. The rule went into effect on February 9.