Tether to Foster Fintech Innovations in Uzbekistan
The stablecoin leader has entered into a Memorandum of Understanding (MOU) with the National Agency of Perspective Projects (NAPP) of Uzbekistan, the body charged with overseeing the growth and regulation of the crypto industry.
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The stablecoin leader has entered into a Memorandum of Understanding (MOU) with the National Agency of Perspective Projects (NAPP) of Uzbekistan, the body charged with overseeing the growth and regulation of the crypto industry.
Together, Tether and NAPP will develop proper regulations for stablecoins and tokenized assets, as well as collaborate on establishing a state digital currency for Uzbekistan.
Combined with other ongoing initiatives aimed at improving public services, a well-integrated and responsibly introduced blockchain ecosystem can have a profound impact on improving the lives of all Uzbekistan citizens,
the Director of NAPP, Dmitriy Lee stated.
The collaboration also includes plans to incorporate blockchain and P2P technologies within the nation's telecommunications framework. To expedite blockchain and cryptocurrency adoption among the populace, Tether will engage in various educational efforts.
While Uzbekistan permits its citizens to engage with and trade cryptocurrencies, it does not, like many nations, officially recognize them as a legal tender.
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