The National Agency for Prospective Projects (NAPP) of Uzbekistan is actively deliberating the legalization of bookmakers, lotteries, and casinos. First Deputy Director Vyacheslav Pak shed light on these ongoing discussions during a press conference held on February 6 at the Agency of Information and Mass Communications (AIMC) under the Administration of the President of Uzbekistan.
One of the key challenges facing the regulatory framework involves resolving legal conflicts surrounding bookmakers and lotteries. Pak highlighted discrepancies where licensing procedures exist for lotteries, yet the activity itself is not explicitly listed as requiring a license. Moreover, conflicting regulations exist regarding the issuance of licenses for bookmakers, despite their activities being officially banned. This regulatory ambiguity has led to administrative and criminal liabilities for gambling-related offenses.
Acknowledging the need for resolution, Pak affirmed the agency's commitment to addressing these legal conflicts to ensure coherence within the regulatory framework. He emphasized that the agency is diligently studying the issue and will make informed decisions based on the outcomes of thorough consideration and proposal submissions.
The National Agency for Prospective Projects of Uzbekistan (NAPP) is a governmental body tasked with overseeing the regulation, licensing, and authorization processes within various sectors, including cryptocurrency circulation, capital markets, insurance, e-commerce, lotteries, and bookmaking. NAPP aims to establish a market that aligns with global standards, facilitate the influx of additional capital and investments into the country's economy, safeguard the interests of investors, and foster conditions conducive to enhancing the welfare of citizens.
Earlier Daryo reported that the NAPP has declared its plans to initiate legal proceedings against Binance, a leading global cryptocurrency exchange.
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