Order of the Director of the National Agency for Promising Projects of the Republic of Uzbekistan on Approving the Rules for Conducting Crypto-Shop Activities

Order of the Director of the National Agency for Promising Projects of the Republic of Uzbekistan, registered on 31.10.2022, registration number 3395

On Approving the Rules for Conducting Crypto-Shop Activities

Effective Date

31.10.2022

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OKOS:
1.
02.00.00.00 Fundamentals of State Administration / 02.08.00.00 General Issues of State Administration in the Sphere of Economy, Socio-Cultural Construction / 02.08.14.00 Digital Economy]
[
TSZ:
1.
Finance / Exchange Activity]
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Order of the Director of the National Agency for Promising Projects of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get a link from the document element on approving the Rules for conducting crypto-shop activities Send suggestions for the document Listen to audio Get a link from the document element [Registered by the Ministry of Justice of the Republic of Uzbekistan on October 31, 2022, registration number 3395] Send suggestions for the document Listen to audio Get a link from the document element Send suggestions for the document Listen to audio Get a link from the document element In accordance with the Decision of the President of the Republic of Uzbekistan dated July 27, 2017, No. PQ-3150 "On Organizing the Activities of the National Agency for Promising Projects of the Republic of Uzbekistan" and the Decision dated July 3, 2018, No. PQ-3832 "On Measures to Develop the Digital Economy and the Circulation of Crypto-Assets in the Republic of Uzbekistan", I order:
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The Rules for conducting crypto-shop activities
are approved according to the attachment.
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This order enters into force from the day of its official publication.
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Director D. LI
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Tashkent city,
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September 29, 2022,
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No. 43
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ATTACHMENT to the Order of the Director of the National Agency for Promising Projects of the Republic of Uzbekistan dated September 29, 2022, No. 43 Send suggestions for the document Listen to audio Get a link from the document element Rules for conducting Send suggestions for the document Listen to audio Get a link from the document element crypto-shop activities Send suggestions for the document Listen to audio Get a link from the document element Send suggestions for the document Listen to audio Get a link from the document element These Rules establish the procedure for organizing and conducting crypto-shop activities. Send suggestions for the document Listen to audio Get a link from the document element
Chapter 1. General Provisions
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The following main concepts are used in these Rules:
crypto-shop
— an organization (legal entity) providing an electronic platform and (or) a set of technical and software tools for providing services for the purchase and (or) sale of crypto-assets; customers — natural persons, including foreign natural persons, carrying out operations for the purchase and (or) sale of crypto-assets; listing — the process of adding crypto-assets to the trading basket for purchase and (or) sale by the crypto-shop; delisting — the process of removing crypto-assets from the trading basket by the crypto-shop; trading basket — a list of permitted crypto-assets for carrying out purchase and (or) sale operations with customers on the crypto-shop's electronic platform or through the trading facility; electronic platform of the crypto-shop — an information system of the crypto-shop where the following are carried out:
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Get a link from the document element purchase and (or) sale of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element listing and delisting; Send suggestions for the document Listen to audio Get a link from the document element preparation and formation of reporting documents for operations for the purchase and (or) sale of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element preparation and formation of reporting documents for orders for the purchase and (or) sale of crypto-assets that were not executed; Send suggestions for the document Listen to audio Get a link from the document element storage, processing, and disclosure of information regarding operations related to the purchase and (or) sale of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element other organizational and technical work aimed at facilitating customers in carrying out operations for the purchase and (or) sale of crypto-assets; technical and software tools of the crypto-shop — a software-hardware complex of the crypto-shop where the following are carried out:
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Get a link from the document element operations for the purchase and (or) sale of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element other organizational and technical work aimed at facilitating customers in carrying out operations for the purchase and (or) sale of crypto-assets; trading facility of the crypto-shop (hereinafter referred to in the text as the trading facility) — a room or facility designed (adapted) for carrying out operations for the purchase and (or) sale of crypto-assets between the crypto-shop and customers using the technical and software tools of the crypto-shop; competent authority — the National Agency for Promising Projects of the Republic of Uzbekistan. Send suggestions for the document Listen to audio Get a link from the document element
The organization of crypto-shop activities is carried out in accordance with the Regulation on Licensing the Activities of Service Providers in the Field of Crypto-Asset Circulation (registration number 3380, August 15, 2022).
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Crypto-shops carry out their activities through their electronic platform and (or) trading facility. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop:
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Get a link from the document element ensures the necessary level of operation of its electronic platform and (or) technical and software tools; Send suggestions for the document Listen to audio Get a link from the document element maintains separate accounting for operations for the purchase and (or) sale of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element creates a backup copy of all information (in electronic or paper form) about operations carried out with customers at the end of each day; Send suggestions for the document Listen to audio Get a link from the document element ensures the execution of customers' orders for the purchase and (or) sale of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element ensures the information security of its electronic platform and (or) technical and software tools; Send suggestions for the document Listen to audio Get a link from the document element constantly increases the level of knowledge of its employees and persons attracted on the basis of civil-law contracts regarding legislation in the field of combating the legalization of income obtained from criminal activity, financing of terrorism, and financing of the proliferation of weapons of mass destruction, as well as local documents approved by the crypto-shop (hereinafter referred to in the text as local documents); Send suggestions for the document Listen to audio Get a link from the document element permits the carrying out of operations for the purchase and (or) sale of crypto-assets only to customers who have undergone mandatory identification and inspection in accordance with legislation in the field of combating the legalization of income obtained from criminal activity, financing of terrorism, and financing of the proliferation of weapons of mass destruction; Send suggestions for the document Listen to audio Get a link from the document element must comply with the requirements provided for by legislation in advertising crypto-assets and conducting its activities. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop must develop and approve local documents regulating:
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Get a link from the document element operations for the purchase and (or) sale of crypto-assets, including the rules for carrying out the listing and delisting of crypto-assets; Send suggestions for the document Listen to audio Get a link from the document element rules for the identification of customers. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop has the right to carry out operations for the purchase, sale, and (or) exchange of crypto-assets with other crypto-assets to fulfill its obligations to customers through service providers in the field of crypto-asset circulation located in the Republic of Uzbekistan or platforms located in foreign states.
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The crypto-shop carries out constant monitoring and control over operations for the purchase and (or) sale of crypto-assets.
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The crypto-shop must keep a record of cases of violation by customers of the requirements of these Rules and must provide information about these cases to the competent authority based on its request, no later than five working days from the date of receipt of the request. Send suggestions for the document Listen to audio Get a link from the document element In the event that signs of a crime are detected, the crypto-shop is obliged to immediately notify the competent authority and law enforcement agencies in writing in accordance with legislation. Send suggestions for the document Listen to audio Get a link from the document element
The following operations are carried out at the crypto-shop:
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Get a link from the document element a) through the electronic platform of the crypto-shop:
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Get a link from the document element purchase and (or) sale of crypto-assets in national currency by natural persons through bank transfers; Send suggestions for the document Listen to audio Get a link from the document element purchase and (or) sale of crypto-assets in foreign currency by foreign natural persons through bank transfers; Send suggestions for the document Listen to audio Get a link from the document element b) through the trading facility of the crypto-shop:
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Get a link from the document element purchase of crypto-assets in national currency by natural persons through bank transfers; Send suggestions for the document Listen to audio Get a link from the document element purchase of crypto-assets in cash in national and (or) foreign currency by customers; Send suggestions for the document Listen to audio Get a link from the document element sale of crypto-assets by customers only in national currency. Send suggestions for the document Listen to audio Get a link from the document element The choice of crypto-assets as the object of purchase and the relevant consequences of this choice are at the buyer's own risk. Send suggestions for the document Listen to audio Get a link from the document element
The following operations are prohibited at the crypto-shop:
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Get a link from the document element operations carried out with customers who have not undergone mandatory identification; Send suggestions for the document Listen to audio Get a link from the document element operations with crypto-assets issued by residents of the Republic of Uzbekistan; Send suggestions for the document Listen to audio Get a link from the document element operations for the purchase and (or) sale of anonymous crypto-assets and non-fungible tokens. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop must place the information specified in
Appendix 1
to these Rules on its electronic platform or trading facility.
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Chapter 2. Organization of Relations with Customers
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The crypto-shop organizes operations for the purchase and (or) sale of crypto-assets through its electronic platform or trading facility.
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To have the opportunity to carry out operations for the purchase and (or) sale of crypto-assets, the customer undergoes mandatory identification through the electronic platform and trading facility of the crypto-shop and concludes a contract with the crypto-shop.
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For mandatory identification, customers submit the following documents and information to the crypto-shop:
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Get a link from the document element a copy of the document confirming the identity of the natural person and the personal identification number of the natural person (PIN); Send suggestions for the document Listen to audio Get a link from the document element contact information for establishing contact with the customer (phone number or email address); Send suggestions for the document Listen to audio Get a link from the document element other information specified in legislation in the field of combating the legalization of income obtained from criminal activity, financing of terrorism, and financing of the proliferation of weapons of mass destruction. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop is not entitled to conclude a contract with:
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Get a link from the document element persons under the age of eighteen; Send suggestions for the document Listen to audio Get a link from the document element persons included in the list of persons involved or suspected of involvement in terrorist activities or the proliferation of weapons of mass destruction, based on legislation in the field of combating the legalization of income obtained from criminal activity, financing of terrorism, and financing of the proliferation of weapons of mass destruction. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop places information about the terms of concluding a contract and the text of the contract on its electronic platform and trading facility. In this case, information about the terms of concluding a contract and the text of the contract must be communicated to customers orally, in writing, or in electronic form before the contract is concluded.
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Before concluding a contract, the crypto-shop must inform customers about the following conditions:
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Get a link from the document element the possibility of sending the information specified in paragraph 6 of these Rules to the competent authority; Send suggestions for the document Listen to audio Get a link from the document element negotiations with customers are recorded in audio or video format with their consent, and the correspondence history is also stored; Send suggestions for the document Listen to audio Get a link from the document element the requirements specified in paragraph 7 of these Rules; Send suggestions for the document Listen to audio Get a link from the document element the rights and obligations of customers in accordance with these Rules. Send suggestions for the document Listen to audio Get a link from the document element
The crypto-shop must ensure the security of the trading facility and equip it with means for audio and video recording of negotiations carried out with customers.
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When concluding a written contract through the trading facility between the crypto-shop and the customer, the customer fills out an order (in electronic or paper form) having submitted the information specified in
paragraph 12 of these Rules. In this case, a new order is filled out by the customer for each operation. Send suggestions for the document Listen to audio Get a link from the document element
If a contract is concluded between the crypto-shop and the customer through the electronic platform of the crypto-shop, an account record (personal cabinet) is created for the customer on the electronic platform of the crypto-shop.
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Only one account record (personal cabinet) is created for one customer on the electronic platform of the crypto-shop. Send suggestions for the document Listen to audio Get a link from the document element
If customers violate the requirements of these Rules and local documents, the opportunity for them to carry out operations for the purchase and (or) sale of crypto-assets on the electronic platform and trading facility of the crypto-shop is restricted for a period of three months. In this case, customers cannot be participants in contracts for the purchase and (or) sale of crypto-assets during this period.
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Chapter 3. Carrying Out Operations for the Purchase and (or) Sale of Crypto-Assets
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When carrying out operations for the purchase and (or) sale of crypto-assets, the crypto-shop:
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Get a link from the document element if crypto-assets are sold to the customer through the trading facility, accepts payment in electronic or cash form in national and (or) foreign currency; Send suggestions for the document Listen to audio Get a link from the document element if crypto-assets are purchased from the customer through the trading facility, makes payment in electronic or cash form in national currency; Send suggestions for the document Listen to audio Get a link from the document element if crypto-assets are sold and (or) purchased through the electronic platform, makes payment in electronic form in national and (or) foreign currency; Send suggestions for the document Listen to audio Get a link from the document element provides the customer with a certificate in the form specified in
Appendix 2
to these Rules, confirming the execution of operations for the purchase and (or) sale of crypto-assets through the trading facility; Send suggestions for the document Listen to audio Get a link from the document element ensures the submission of collected income in cash form to the bank in the manner established by legislation. Send suggestions for the document Listen to audio Get a link from the document element
A contract for the sale and (or) purchase of crypto-assets between the crypto-shop and customers through the trading facility is concluded and signed in two copies. One copy of the contract remains with the crypto-shop.
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A contract for the sale and (or) purchase of crypto-assets on the electronic platform of the crypto-shop is concluded in electronic form by way of offer and acceptance.
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The crypto-shop ensures the fulfillment of obligations regarding operations for the purchase and (or) sale of crypto-assets.
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The crypto-shop is not entitled to accept and store customer funds, as well as participate in operations for the purchase and (or) sale of crypto-assets in the name of and at their expense.
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The crypto-shop prepares a report daily on operations carried out with customers for the purchase and (or) sale of crypto-assets, as well as on executed and unexecuted orders for the purchase and (or) sale of crypto-assets. In this case, corrections and changes to reports are not allowed.
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The crypto-shop must provide reports on operations carried out and orders for the purchase and (or) sale of crypto-assets:
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Get a link from the document element to customers — their relevant part, no later than fifteen days from the date of receipt of such request; Send suggestions for the document Listen to audio Get a link from the document element to the competent authority — free of charge within the timeframe specified in its request. Send suggestions for the document Listen to audio Get a link from the document element
Chapter 4. Final Provisions
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Disputes between the crypto-shop and the customer are resolved by mutual agreement of the parties or in court.
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Persons guilty of violating the requirements of these Rules are held liable in accordance with legislation in the established manner.
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APPENDIX 1
to the Rules for conducting crypto-shop activities Send suggestions for the document Listen to audio Get a link from the document element INFORMATION to be placed on the electronic platform and (or) trading facility of the crypto-shop Send suggestions for the document Listen to audio Get a link from the document element
Information about the crypto-shop (name, location (postal address), state registration number and date, taxpayer identification number, founders and management).
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Contact information (email address or phone number, responsible person for contact).
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Terms for carrying out operations for the purchase and (or) sale of crypto-assets and the text of the contract.
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Information on methods and measures for resolving disputes by customers dissatisfied with the actions (inaction) of the crypto-shop (including through mediation or court).
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Information that must be indicated in advertising about the activities of the crypto-shop.
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Information about the trading basket of the crypto-shop, current prices of crypto-assets, and commissions or rewards established for the services provided.
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APPENDIX 2
to the Rules for conducting crypto-shop activities Send suggestions for the document Listen to audio Get a link from the document element Send suggestions for the document Listen to audio Get a link from the document element _______________________________________

(name of the crypto-shop, location (postal address) and other contact information)

Information Note No. _____

Regarding the operation of purchasing and (or) selling crypto-assets to a customer

Address of the trading object:

Operation number (sequence number):

Date the operation was performed:

Type of operation
(purchase/sale):

Type of crypto-asset:

Quantity of crypto-asset:

Amount of the operation:

Customer's surname, first name, and patronymic:

(name of the responsible person)

(signature)

(National Database of Legislative Information, 31.10.2022, No. 10/22/3395/0984)

Order of the Director of the National Agency for Promising Projects of the Republic of Uzbekistan on Approving the Rules for Conducting Crypto-Shop Activities

Lineage: In force