Central Bank of Uzbekistan issues unfavorable statement on cryptocurrencies

The Central Bank of Uzbekistan (CBU) has released a special statement calling virtual money an instrument for financing terrorism. The special statement also declared that there was no plan for the country to consider placing any sort of virtual money on the legal agenda and advised citizens to stay away from using them. This has served to further reduce the interest of potential investors into cryptocurrencies. At the same time, the CBU’s statement failed to include any talk of introducing prohibitive measures, leaving cryptocurrencies in a sort of limbo where they are not allowed but also not prohibited.