More

    Uzbekistan Gov't And Cardano’s Emurgo Partner On Blockchain Task Force For STO Regulations

    Emurgo, Cardano’s blockchain commercial wing, has inked a partnership deal with the Uzbekistan government to help with setting up a task force which will come up with regulations to guide security token offerings (STOs as well as the operations of the exchanges (STXs), Cointelegraph reports.

    In a press statement released on Jan. 20, Emurgo stated the strategic partnership also brings together the Uzbekistan government though the National Agency of Project Management, Kobea Group as well Infinity Blockchain Holdings. The task force is expected to come up with a legal framework to guide how STOs and STXs will operate in Uzbekistan.

    The partnership will see Emurgo and Kobea offer advisory services on matters infrastructure in relation to digital asset banking as well as blockchain education including other aspects.

    Emurgo is also set to explore the potential the prospects that Cardano’s third-generation blockchain has within the country. In addition, the blockchain education will include integrating blockchain platform in the country’s university education in efforts to churn out the next blockchain experts in the country.

    Emurgo will also look at how the country’s traditional equities can be tokenized via STO in efforts to enhance transparency and security in the financial sector.

    The announcement comes just days after National Agency of Project Management (NAPM) said it was prioritizing the formation of the country’s crypto mining pool in efforts to consolidate capacities of both the local and international miners.

    The move aims at ensuring that crypto mining is economically efficient, enhance transparency as well as security in the industry. This will also enhance efficient use of energy and attract additional investment.

    Despite the formation of the taskforce, it is still unclear of the government’s stand on the use of cryptos. The government restricted the citizens from buying cryptocurrencies in December 2019. The move caught many by surprise as the nation has shown a lenient stance when it comes to cryptocurrencies. In 2018, the government had committed to regulate and develop a licencing procedure for crypto exchanges, ICOs as well as mining operations.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Joseph Kibe
    Joseph Kibe
    Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,283FansLike
    2,755FollowersFollow
    4,128FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Danone Launches ‘Track & Connect' Putting Baby Formula Supply On Blockchain Technology

    Danone is applying for the first time blockchain, aggregation and serialisation technologies for its infant formula packs. David Boulanger, the company’s senior VP of...

    Deribit Exchange Launches Ethereum Daily Options After Success With Bitcoin Contracts

    The Deribit Exchange specializing in crypto derivatives has launched daily Ether (ETH) options, an announcement from Monday and made on Twitter says. https://twitter.com/DeribitExchange/status/1229345670492016640 The strike price...

    Central Bank of Russia Proposes Amendments To Legal Framework for Tokenization

    The proposed cryptocurrency legislation in Russia could change a lot, now that a new bill for tokenization has been filed. On February 17, the Central...

    Ripple (XRP) Price Analysis (February 17)

    Key Highlights XRP market is under a falling force by the US dollar price valuation. XRP/USD pair’s value now averages a low point at...

    Binance Applies for Singapore Crypto License Under The New Payment Services Act

    Binance crypto exchange through its parent company has applied for Singapore’s new operating license. This follows an upgrade of laws governing crypto in the...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.