Coinspeaker
Jan 17, 2025
21 1

Binance Receives Regulatory Approval to Operate in Uzbekistan

2 min

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.