A court in Uzbekistan issued a 10-day administrative prison sentence against a 24-year-old student, graduate of Termez State University, for selling a cryptocurrency.
Termaz State University is a public educational institution located in the city of Termaz, the capital of Surkhandarya Province in Uzbekistan.
This ruling came after the court found him guilty of violating the laws related to the trading of cryptocurrencies in the country.
The case began when the Tashkent City Department of Internal Affairs (DIA) received a complaint on June 1.
The investigation following the complaint revealed that the student was involved in illegal transactions related to cryptocurrencies, which he carried out using his smartphone and bank card.
During the court session, the student admitted to selling a cryptocurrency known as “notcoin” via the Telegram application, for an amount of 800,000 Uzbekistani soms (about $63).
He explained that he was not aware that these actions were a violation of the law, and asked for leniency from the court.
After hearing the circumstances of the case and the student’s confessions, the Chilanzar District Criminal Court decided to convict him under the first part of Article 155-4 of the Code of Administrative Liability, which addresses crimes related to cryptocurrency legislation in Uzbekistan.
This case highlights the increasing importance of awareness of the laws governing cryptocurrency trading, and the potential legal risks that individuals may face when engaging in such activities especially in geographic locations that prohibit them.
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