A 24-year-old graduate of Termez State University has been subjected to administrative imprisonment for engaging in the sale of notcoins, a form of cryptocurrency. The individual was found to have violated legislation governing the circulation of crypto assets. Identified as I.N., a resident of the Uzun district in the Surkhandarya region and a graduate of Termez State University, the individual faced administrative consequences for their involvement in the sale of the notcoin cryptocurrency.
Per court documents reviewed by Kun.uz, an inquiry was initiated following an application by citizen N.A., lodged with the Tashkent city Department of Internal Affairs on June 1, 2024. Subsequent investigations revealed that individual I.N. had been conducting illicit transactions involving crypto assets through the use of a mobile phone and a bank-issued plastic card.
During a court hearing, I.N. admitted guilt, acknowledging that they had acquired a crypto asset via the Telegram social network and sold notcoin for 800,000 soums. I.N. pleaded unawareness of the illegality of their actions and appealed for leniency.
Following a review of the case, the Chilanzar district criminal court pronounced I.N. guilty of violating Part 1 of Article 155-4 of the Administrative Responsibility Code and sentenced them to 10 days of administrative arrest.
It is noteworthy that Article 155-4 of the Administrative Responsibility Code addresses offenses related to breaching legislation concerning the circulation of crypto assets. As outlined, illegitimate acquisition, transfer, or exchange of crypto assets may warrant administrative arrest for up to 15 days or a fine of 20 to 30 BCAs, in addition to the confiscation of crypto assets and any tools employed in the commission of these offenses.
