Uzbekistan and Belarus use South Korea's experience in Crypto

[Paha87]

South Korea undoubtedly has some respectable experience in the crypto-sphere, and other countries understand this. Uzbekistan, which has recently legalized trading in digital assets, turned to South Korean experts for help in implementing a project to create the country's first cryptocurrency exchange. Belarus, a leading crypto-friendly place in the post-Soviet space, is trying to lure FINTECH investors from Seoul.

                                                          National crypto-exchange of Uzbekistan






Uzbekistan, a Central Asian country that has recently legalized cryptocurrency trading and is introducing a licensing regime for foreign crypto-exchanges, is currently working to create a state-owned trading platform for trading digital coins. The authorities in Tashkent are assisted in their efforts by the Korean blockchain Association (KOBEA).

Both sides were negotiating for several months before signing an agreement on joint work on the project" Revolution in Uzbekistan", which aims to develop the blockchain industry in the country. In its implementation, KOBEA will cooperate with the National project management Agency in the office of President Shavkat Mirziyoyev, the regulatory body responsible for issuing licenses for crypto - related business and overseeing the sector as a whole.

In addition to the national crypto-exchange, the project provides for the construction of an industrial mining center and a blockchain Academy. It is expected that KOBEA will continue to provide technical advice on other Uzbek projects in the field of cryptocurrency assets and technologies, including the legalization of initial coin offerings (ICO), the formation of a local mining industry, the use of cryptocurrency and the creation of a large research complex in the capital. The government intends to use the experience of specialists in the field of digital economy from South Korea and launch specialized training courses at universities in the country.


                                                           Belarus invites South Korean investors


             



In its efforts to exploit economic development, using cryptocurrency, Uzbekistan actually follows in the footsteps of another former Soviet Republic - Belarus. The presidential decree issued by Alyaksandr Lukashenka has turned a politically isolated, from the Western point of view, country into one of the most crypto-friendly jurisdictions in Europe, opening the doors for business to companies from all over the world with favorable regulatory rules and tax benefits.

Minsk is fully aware of South Korea's experience in the FINTECH industry and has taken steps to attract South Korean investors from this sector. During a recent working visit to the East Asian country, Belarusian diplomats expressed interest in strengthening cooperation with businessmen from Seoul, who are considering the possibility of participating in FINTECH projects related to blockchain in Belarus. In an interview, the representative of the Vice-Minister of foreign Affairs of Belarus Andrei Dapkunas highlighted the innovative nature of his government's policy in the field of cryptocurrency, blockchain technology, startups and software development.

The two countries have already established strong business ties in the field of high technology. South Korea's exports to Belarus include IT products and electronics, while Belarusian companies export semiconductors, optical devices and lasers to South Korea.

Belarus is also seeking to create better conditions for the high-tech and FINTECH industry in Europe. During the regular session of the parliamentary Assembly of the Organization for security and cooperation in Europe (OSCE), a draft resolution on the digital economy was presented in Minsk. The document received support and was unanimously adopted by member States. Nevertheless, investors and startups are still cautious about the prospects of working in the Belarusian digital space, fearing high risks and the lack of practical experience of the country in the field of innovation.

Link to information resource - https://altstake.io/news/uzbekistan-i-belarusy-ispolyzuyut-opytyughnoy-korei-v-kripto