Authorities in Tajikistan announced the launch of the country’s first crypto exchange, noting it will allow local investors to reach global markets for digital assets.
The new platform, supported by the central bank, is operating in a regulated environment to ensure safe cryptocurrency trading and secure transactions, officials insisted.
Government to help crypto investments through a new exchange
The Central Asian nation of Tajikistan now has its own cryptocurrency exchange that will provide services to private and institutional investors, including commercial banks which want to acquire and trade digital assets.
The trading venue will be processing crypto transactions under the auspices of the government Agency for Innovation and Digital Technologies (AIDT) and the National Bank of Tajikistan (NBT), media reports unveiled.
The exchange will operate within a regulated environment, NBT Governor Firdavs Tolibzoda said, quoted by the Russian crypto news outlet Bits.media. He pointed out:
“This allows entrepreneurs and investors to safely trade digital assets.”
At the same time, the financial authority will be able to minimize risks associated with fraud, money laundering and the financing of illegal activities, Tolibzoda added. A set of rules developed by the two government bodies will ensure transactions are secure and crypto investors protected.
The exchange has been set up at the Dushanbe IT Park which provides a launching pad for startups. The hub already has 19 registered residents, the head of the AIDT, Khurshed Fayzullozoda, revealed to the Jumhuriyat newspaper. These companies enjoy various tax and duty exemptions.
Tajikistan’s cryptocurrency exchange is connected to the global markets and interested local banks, private and institutional investors will have the opportunity to participate in the trading of crypto assets through its platform, the official emphasized.
15% of Tajik internet users are already invested in crypto
Fayzullozoda is convinced that the launch of the national crypto exchange will stimulate the development of the IT industry, create jobs for programmers and blockchain specialists and contribute to the legalization of cryptocurrency circulation in the former soviet republic.
Around 15% of internet users in Tajikistan already own cryptocurrencies, according to a study conducted by the innovation agency. Authorities view the stats as an indication of a fairly high interest in digital assets among citizens.
Until now, the only option Tajik crypto investors had was to use the services of international trading platforms such as Binance or Bybit, often facing difficulties with fiat transfers in Tajikistani somoni, their country’s fiat currency.
The language barrier has been also a challenge for some beginners, Khurshed Fayzullozoda noted. The new exchange solves these issues by offering Tajik and Russian-language interface and integration with local payment systems, Fayzullozoda highlighted.
The AIDT director also praised the technologies that underpin cryptocurrencies for their potential to “significantly change the fields of finance and public administration,” emphasizing:
“Blockchain ensures transparency, security and speed of transactions as well as data protection.”
Cryptocurrency adoption has been gaining traction in the region and Tajikistan has to catch up with Central Asian neighbors like Uzbekistan and Kyrgyzstan, with the latter preparing to launch crypto payments supported by Binance, the world’s largest exchange.
The race to become a regional crypto hub is on and a government official in Kazakhstan recently called for adopting “flexible rules” for the industry that would allow his nation to pull ahead. In just three years, the country collected $35 million in taxes from the mining sector alone.
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