Young man who carried out illegal cryptocurrency transactions for almost $8,000 arrested in Tashkent

On June 20, the Uchtepa district criminal court heard a case against 25-year-old J.A., who violated the legislation in the field of circulation of crypto-assets, UzNews.uz correspondent reports.

According to the case materials, J.A., without a license to operate as a service provider in the field of crypto-asset turnover, until May 16, 2024, carried out 23 transactions on the Binance platform for the purchase and transfer to others of cryptocurrency in the amount of 7768.66 USDT (USDT is a cryptocurrency Tether, the price of which is pegged to the US dollar. The ratio of USDT to USD is 1:1), thereby violating the legislation in the field of crypto-asset circulation.

At the court hearing, the offender admitted that he had indeed carried out illegal trafficking in cryptoassets on the Binance platform, admitted his guilt and repented of his crime, asking the court to mitigate the punishment.

According to the court decision, citizen J.A. was found guilty of committing an offense under Part 1, Article 155-4 Code of Administrative Responsibility Code (Violation of legislation in the field of circulation of crypto-assets), he was sentenced to 5-day administrative arrest.

In addition, the seized Redmi Note 9 phone has been ordered to be destroyed.