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Tether, the company behind the largest stablecoin USDT, announced that it will cooperate with the Republic of Uzbekistan to contribute to cryptocurrency regulations.
At this point, Tether announced today that a Memorandum of Understanding was signed with the National Perspective Projects Agency of the Republic of Uzbekistan.
Tether will focus on supporting the development of a legal framework and regulatory policy for cryptocurrencies in Uzbekistan and will facilitate the development and implementation of Uzbekistan's digital currency.
Tether made the following statements in its statement:
“Tether, the largest company in the cryptocurrency industry, today signed a Memorandum of Understanding (MOU) with the National Perspective Projects Agency (NAPP), which is responsible for crypto regulation and development in the Republic of Uzbekistan.
This strategic collaboration aims to position Uzbekistan as a central hub for peer-to-peer and blockchain technology and spark a revolution of innovation and economic growth.
It also underscores Tether's commitment to advancing its global strategy to build resilient cities and nations around the world.
“This collaboration aims to explore and promote the development and adoption of blockchain technology, stablecoins and digital asset tokenization in Uzbekistan, while also stimulating economic growth and innovation in the region.”
Tether CEO Paolo Ardoino said, “We are excited to collaborate with the National Perspective Agency of the Republic of Uzbekistan (NAPP) to explore the vast potential of blockchain, stablecoins and peer-to-peer telecommunications technology in Uzbekistan. This collaboration enables Tether to innovate the digital asset ecosystem globally.” and demonstrates its commitment to promoting responsible development.” said.
Tether signs MOU with National Agency of Perspective Projects (NAPP) of the Republic of Uzbekistan's to explore and promote the development and adoption of #bitcoin, stablecoins, blockchain technology, P2P, and digital asset tokenization in Uzbekistan🇺🇿https://t.co/XpveWOWP6i pic.twitter.com/jBvxEK7Lf5
— Tether (@Tether_to) March 7, 2024
*This is not investment advice.