A court in Tashkent sentenced a user of the world's largest cryptocurrency exchange Binance to five days of arrest for the sale and transfer of 7,768.66 USDT stablecoins. According to the verdict, the Redmi Note 9 smartphone belonging to an Uzbek citizen must be destroyed.
The 25-year-old local resident completed 23 buy-sell transactions of USDT on Binance. The accused fully admitted the fact of the transactions and asked the court to mitigate the punishment.
The exchange client was found guilty under Part 1 of Article 155-4 of the Code of Administrative Responsibility (violation of legislation in the field of circulation of cryptocurrency assets), since the Tashkent resident did not have a license to operate as a service provider in the field of circulation of virtual coins.
The fact is that in the Republic of Uzbekistan there is administrative and criminal liability for the illegal circulation of cryptocurrencies and mining of digital assets. The administrative code now states that the illegal sale or exchange of cryptocurrency assets entails punishment: administrative arrest for up to 15 days or a fine of 20 to 30 basic calculation units ($540), confiscation of assets and instruments of the offense.
