Binance Receives Regulatory Approval to Operate in Uzbekistan
Binance has received regulatory approval from Uzbekistan’s National Agency of Perspective Projects (NAPP) to operate in the country. Binance will use crypto exchange license no CE#0004 issued to COINPAY LLC, enabling local users to deposit and withdraw funds in the national currency via COINPAY.uz.
- This milestone supports Binance's global expansion amid a bullish market.
- Binance has previously secured licenses in multiple countries, including India, Brazil, and Japan.
- Uzbekistan's crypto industry is forecasted to reach €33.29 million by 2028 with a 12% annual growth rate.
The regulatory advancements are likely to impact BNB price positively during the ongoing 2025 bull run. BNB has seen a 5% increase this week, trading around $727, with a fully diluted valuation of about $105 billion.
- Binance promotes BNB adoption through airdrops and trading fee waivers.
- Regular quarterly burns position BNB for potential price increases after recent consolidations.
- The bullish sentiment in the altcoin market is supported by Bitcoin's rally above $102k.
Recently, Binance Smart Chain (BSC) reported over $5.8 billion in total value locked and more than $6.9 billion in stablecoin market cap, with 1.15 million active addresses in the past 24 hours. Additionally, BNB was recognized by Bhutan as part of its strategic reserve.