Uzbekistan approves the use of stablecoins for payments under new sandbox mechanism

According to a report by Jinse Finance, local news outlet Kun reported on Friday that Uzbekistan's new regulatory framework for stablecoins will take effect on January 1, 2026. The new law, signed on November 27, establishes a regulatory sandbox under the jurisdiction of the National Agency for Perspective Projects and the Central Bank. Pilot projects are expected to be implemented to develop stablecoin payment systems based on distributed ledger technology. Reportedly, starting next year, entities in Uzbekistan will be allowed to issue tokenized stocks and bonds, and an independent trading platform for these new assets will be created on licensed securities exchanges.