Uzbek Court Sentenced Student To 10 Days in Prison For Selling Notcoin (NOT)
Latest News News

Uzbek Court Sentenced Student To 10 Days in Prison For Selling Notcoin (NOT)

A 24-year-old Termez State University graduate has been sentenced to 10 days of administrative imprisonment by a Uzbek Court for selling cryptocurrency Notcoin (NOT). 

Termez State University is a public institution located in the capital of Surkhandarya province, Uzbekistan. 

The court found him guilty of violating laws governing the circulation of crypto assets. 

The case began when a complaint was filed with Tashkent city’s Department of Internal Affairs (DIA) on June 1. 

The subsequent investigation uncovered the student’s illegal crypto transactions, conducted using his phone and bank card. 

During the court hearing, the student admitted his guilt, explaining that he had sold Notcoin via Telegram for 800,000 Uzbekistani som ($63) and was unaware that his actions were illegal. 

He requested leniency from the court. The Chilanzar district criminal court found him guilty under Part 1 of Article 155-4 of the Administrative Responsibility Code, which addresses offenses related to crypto asset legislation.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.