Uzbekistan is exploring new approaches to regulating stablecoins and tokenized securities, taking into account the specific features of digital financial instruments and international experience. Vyacheslav Pak, First Deputy Director of the National Agency of Perspective Projects, made the remarks while speaking at the Silk Road Finance & Technology Forum, Trend’s special correspondent reports from Tashkent. According to Pak, the development of digital financial instruments requires existing regulatory approaches to be adapted, as such instruments enable significantly faster movement of value.
He noted that unlike traditional payments, which can take several days or even a week, transactions involving digital assets can be completed within seconds or minutes. According to Pak, the development of an appropriate regulatory framework should take into account anti-money laundering (AML), monetary policy, the integration of stablecoins into the traditional banking system and their reflection in monetary statistics. Speaking about the tokenization of securities, Pak noted that international experience in this area is still developing, creating an opportunity to establish different regulatory approaches.
I think that currently there is no country in the world that has a fully regulated tokenization of securities market,” he said. According to Pak, one possible approach could involve creating a digital twin of a traditional stock or bond. At the same time, the issuance of tokenized securities requires clear rules governing their accounting, payments and the exercise of holders’ rights.
Pak particularly highlighted issues related to tokenized shares, including ensuring shareholders’ rights to participate in voting and corporate governance. Source: https://www.trend.az/casia/uzbekistan/4217765.html © 2026 Trend News Agency.
Extract — continue reading at the source.
