ANALYSIS OF REGULATORY, LEGAL, AND INSTITUTIONAL REFORMS IN THE FIELD OF CRYPTOCURRENCY CIRCULATION IN UZBEKISTAN

Abstract

This study analyzes regulatory, legal, and institutional reforms in the field of cryptocurrency circulation in Uzbekistan. The research examines the formation of the legal framework for digital assets, licensing mechanisms for cryptocurrency exchanges and service providers, and the role of state institutions in regulating the crypto market. The study also evaluates security measures, anti-money laundering compliance, investor protection mechanisms, and the integration of international regulatory standards. The results show that Uzbekistan is gradually developing a comprehensive regulatory environment for digital assets, aimed at ensuring financial stability, market transparency, and investor protection while supporting innovation and digital economy development. The study concludes that sustainable development of the cryptocurrency market requires not only regulatory frameworks but also technological infrastructure, financial literacy, and continuous adaptation to global digital finance trends.