Uzbekistan Will Recognize Stablecoins Under New 2026 Rule
- Uzbekistan will allow stablecoin payments and tokenized assets starting January 2026.
- Uzbekistan to test stablecoins and tokenized assets under a new regulated sandbox.
- Central Asian nations expand digital-asset frameworks with tighter, innovation-led rules.
Uzbekistan will recognize stablecoins as a means of payment starting January 1, 2026, under a special legal regime announced by the Ministry of Justice. The government also confirmed that domestic companies will gain approval to issue tokenized stocks and securities on the same day, marking one of the country’s most comprehensive digital-asset shifts. The decision arrived after President Shavkat Mirziyoyev signed a new decree that seeks to expand fintech activity and attract foreign capital into the sector.
Uzbekistan Moves Toward Regulated Stablecoin Payments
Uzbekistan’s Ministry of Justice stated that the special regime will introduce stablecoins for payment use within a controlled environment. The notice cited a resolution from the country’s long-term leader, according to sources.
Furthermore, the National Agency of Perspective Projects (NAPP) and the Central Bank will outline the sandbox structure and its duration. The NAPP manages oversight of capital markets, insurance, and e-commerce. It also holds direct responsibility for crypto licensing and supervision. This move raises a pivotal question: How far will Central Asia push this state-managed approach to digital assets?
The ministry added that pilot projects will start next year to develop a payment system powered by distributed ledger technology. A separate platform on the national stock exchange will handle tokenized products. Licensed firms will access this platform under new regulatory conditions.
Since January 2023, Uzbekistan has required all crypto trading to go through licensed domestic providers. In April 2024, the government strengthened enforcement by introducing administrative and criminal penalties for unlicensed or illegal crypto activity. Since May, Uzbekistan has updated its licensing structure for Bitcoin exchanges. The government also shared earlier plans to issue a stable token named HUMO backed by government bonds.
Regional Crypto Approaches Gain Momentum
Turkmenistan joined this regional trend by approving a wide-ranging crypto law. President Serdar Berdimuhamedow said the framework will support investment inflows and advance digitalization. The law requires miners and exchanges to register with the Central Bank and follow strict KYC and AML rules. Cryptocurrencies remain outside legal tender status.
Kyrgyzstan has been expanding its stablecoin efforts. The country recently launched its own national stablecoin on the BNB Chain, and it also serves as the base for the issuer behind A7A5, the sanctioned ruble-pegged token. In October, Kyrgyzstan broadened its footprint further with the rollout of USDKG, a token backed by gold and pegged to the U.S. dollar.
Kazakhstan advanced its own regulatory path when President Kassym-Jomart Tokayev signed a digital-asset law in November that lifted older mining restrictions. The country continues to maintain one of the most developed crypto frameworks in the region.
Related: Kazakhstan Launches First Bitcoin Spot ETF in Central Asia
State Regulation Shapes a Controlled Digital-Asset Market
Officials in Uzbekistan are exploring a digital version of the national currency. Central Bank Governor Timur Ishmetov confirmed in September that stablecoins and a digital sum are under review. He said both require testing before broader rollout.
Central Asia’s interest in fiat-pegged assets continues to rise as regulators structure strict compliance layers. Countries in the region now pair innovation with licensing, identity verification, and financial oversight. This synchronized regulatory pattern shows a coordinated attempt to build a controlled digital-asset corridor by 2026.
