Uzbekistan to sue Binance over unpaid fine

The NAPPA of Uzbekistan is preparing a lawsuit against the Binance bitcoin exchange, which refused to voluntarily pay a fine for operating in the country without a license. This is reported by local media with reference to the statement of the deputy director of the agency Vyacheslav Pak.

Uzbekistan to sue Binance over unpaid fine

According to him, Binance's refusal to settle the issue amicably was "expected." Now NAPPA plans to recover the fine through the court, and then send it for execution to the jurisdiction where the crypto exchange is registered.

It is known that Binance applies Hong Kong law to resolve legal disputes.

The decision to impose a fine of 102 million soums (~$8,300) on the exchange was made in January after checking its activities. NAPPA found that Binance provided services to citizens of Uzbekistan without registering a legal entity in the country. In addition, she conducted transactions with anonymous coins.

Recall that since August 2022, access to unlicensed bitcoin exchanges and exchangers has been blocked in Uzbekistan.


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