Binance Stamps Its Global Web3 Dominance with Regulatory Approval in Uzbekistan | Coinspeaker
LightChain

Binance Stamps Its Global Web3 Dominance with Regulatory Approval in Uzbekistan

Binance has actively sought global regulatory approvals amid the changing cryptocurrency regulatory landscape in the past years.

Steve Muchoki By Steve Muchoki Julia Sakovich Edited by Julia Sakovich Updated 3 mins read
Binance Stamps Its Global Web3 Dominance with Regulatory Approval in Uzbekistan
Photo: Binance / X

Key Notes

  • Binance partnered with COINPAY LLC to enter Uzbekistan’s growing crypto market.
  • BNB price will significantly benefit from the ongoing regulatory approvals of the Binance exchange.

Binance, the most trusted cryptocurrency exchange with the lion’s share in daily trading volume, has reached another major regulatory milestone through approval by Uzbekistan’s National Agency of Perspective Projects (NAPP) to offer its services in the country. As a result, Binance will legally operate in Uzbekistan on a crypto exchange license no CE#0004 issued to COINPAY LLC, with access through the entity’s official website COINPAY.uz.

The strategic partnership with COINPAY LLC will help Binance users withdraw and deposit funds in the national currency through local payment systems. Consequently, the Binance exchange will grow its global dominance amid the ongoing crypto bull market.

“Reaching an agreement with Uzbekistan’s regulator is a significant milestone for Binance. It highlights our dedication to working closely with local authorities to ensure full regulatory compliance and create a safe and innovative environment for cryptocurrencies and blockchain technologies globally. We are excited to continue our operations in Uzbekistan and contribute to the growth and development of the crypto industry in the region,” Kyrylo Khomyakov, Binance’s Regional Head for Central and Eastern Europe Central Asia, and Africa, noted.

Binance Growing Regulatory Landscape

Binance has actively sought global regulatory approvals amid the changing cryptocurrency regulatory landscape in the past years. For instance, Binance has received operating licenses in India, Brazil, France, Italy, Sweden, El Salvador, Kazakhstan, Thailand, Japan, and New Zealand, among others.

The recent approval in Uzbekistan will help Binance grow its market dominance.

Moreover, Uzbekistan’s crypto industry is projected to reach €33.29 million by 2028, which represents a 12 percent annual growth.

Market Implications on BNB

The notable growth of Binance in a regulated manner will have a profound impact on BNB price BNB $624.0 24h volatility: 7.5% Market cap: $90.97 B Vol. 24h: $1.25 B action in the ongoing 2025 bull run. The large-cap altcoin, with a fully diluted valuation of about $105 billion and a 24-hour average trading volume of about $1 billion, has rebounded about 5 percent this week to trade about $727 on Friday, January 17, during the early New York session.

The Binance exchange heavily incentivizes the adoption of BNB to mainstream users through regular airdrops and trading fee waivers. With the regular quarterly BNB burns, the altcoin is well-positioned to break out from the recent multi-week consolidation.

Moreover, the ongoing Bitcoin price rally above $102k has rejuvenated bullish sentiment in the altcoin industry, led by  XRP XRP $2.43 24h volatility: 0.7% Market cap: $140.10 B Vol. 24h: $4.45 B and Dogecoin DOGE $0.25 24h volatility: 1.6% Market cap: $37.35 B Vol. 24h: $1.22 B . From a technical analysis standpoint, BNB price is on the cusp of a major bullish uproar towards a new all-time high, especially after teasing price discovery in 2024 fueled by institutional investors.

Fundamental Developments

The Binance ecosystem has grown to a vibrant web3 space, with its BSC chain boasting more than $5.8 billion in total value locked and over $6.9 billion in stablecoins market cap. In the past 24 hours, the BSC chain registered a total of 1.15 million active addresses.

Recently, BNB was recognized by the government of Bhutan as part of the strategic reserve, signaling its mainstream demand.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Binance News, Cryptocurrency News, News
Steve Muchoki
Author Steve Muchoki

Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!

Steve Muchoki on LinkedIn