A 17-year-old teenager from the Bukhara region of the Republic of Uzbekistan was detained for illegal trafficking in cryptocurrencies worth 34 billion soums ($2.6 million). He could face up to five years in prison.

As the press secretary of the regional police department Shukhrat Zhalilov said, the police opened a criminal case under Part 3 of Art. 278−8 of the Criminal Code (violation of legislation in the field of circulation of crypto-assets on an especially large scale). The teenager faces imprisonment for a term of 3 to 5 years. However, if he actively contributes to solving the crime, he can avoid responsibility.

It is not yet known which platforms the suspect traded on. According to the Milliy TV channel, a resident of the mahalla (Muslim community) “Zarafshan” was involved in the illegal circulation of cryptocurrencies. A preliminary investigation is currently underway to establish all the circumstances of the crime.

Let us recall that at the beginning of this year, the authorities of Uzbekistan introduced criminal liability for illegal mining and illegal trafficking of crypto assets. At the same time, it was Uzbekistan that became the leader in the RISE Research rating for the adoption of cryptocurrencies.