From 01.01.2026 Uzbekistan will implement a legal regime that officially permits using stablecoins as a means of payment.

Scope of the reform

The new rules will extend the payment toolbox available to residents and non-residents by recognising certain regulated stablecoins as legal payment instruments.

Alongside payment permissions, the framework will cover legal and operational requirements for entities engaging with such digital assets to ensure regulatory compliance.

Market infrastructure and issuance

Legal entities will be authorised to issue tokenized securities, expanding possibilities for digital representation of financial instruments and ownership rights.

• Licensed stock exchanges will host dedicated trading venues for placing tokenized securities and related instruments.
• Issuers and platforms will need to comply with licensing and reporting obligations established by regulators.

Timing and implementation

The provisions take effect on 01.01.2026, providing market participants time to adapt business models and align operational procedures with the new requirements.

Authorities are expected to detail technical and supervisory norms ahead of the effective date to facilitate a phased and controlled market transition.