Young man was imprisoned for illegal cryptocurrency trading - qalampir.uz

   A 26-year-old man from Tashkent has been sentenced to 5 days in administrative detention for engaging in cryptocurrency trading without the necessary documentation. QALAMPIR.UZ reviewed the court document regarding the case. According to the verdict, the Tashkent City DIA inspected the "Mexc" platform on October 7, during which citizen Kh.T. was found to have repeatedly bought and transferred cryptocurrency since the beginning of 2023 without proper authorization, using his Redmi mobile phone. On October 16, the Chilonzor District Court of Tashkent City held an open session on this case. During the hearing, Kh.T. admitted to engaging in illegal cryptocurrency trading, expressed remorse for his actions, and asked for leniency from the court. Based on the court’s decision, Kh.T. was found guilty under Part 1 of Article 155-4 (Illegal acquisition, transfer, or exchange of crypto-assets, and providing services related to crypto-assets circulation without a license) of the Code of Administrative Responsibility. He was sentenced to 5 days of administrative imprisonment. Additionally, his phone was confiscated by the state, and he was ordered to pay 281,250 soums for his subsistence during the imprisonment. This case follows similar instances of cryptocurrency-related offenses in Tashkent. Recently, a 25-year-old student was sentenced to 10 days in administrative detention for illegal crypto-asset activities, and a 19-year-old who illegally sold Notcoin was sentenced to 7 days in prison. In both cases, their phones were confiscated by the authorities.