Student who sold Notcoin sentenced to 10-day arrest

Citizen I.N., a native of the Uzun district of Surkhandarya region, a graduate of Termez State University, was brought to administrative responsibility for selling the notcoin cryptocurrency.

According to the court document, which Kun.uz has reviewed, on June 1, 2024, a pre-investigation check was carried out on the application of citizen N.A., registered by the Tashkent city DIA. During the inspection, it turned out that citizen I.N. was engaged in illegal transactions with crypto assets using a phone and a bank plastic card.

During the questioning at the court hearing, I.N. pleaded guilty, stated that he collected a crypto asset on the Telegram social network, sold notcoin for 800,000 soums, did not know that it was illegal, and asked for leniency towards him.

The Chilanzar district criminal court, which considered the case, recognized I.N. guilty of committing an offense under Part 1 of Article 155-4 of the Administrative Responsibility Code. He was sentenced to 10 days of administrative arrest.

For reference, Article 155-4 of the Administrative Responsibility Code provides for offenses related to violation of legislation in the field of circulation of crypto-assets. According to this article, illegal acquisition, transfer or exchange of crypto assets is punishable by administrative imprisonment for up to 15 days or a fine of 20 to 30 BCAs on persons against whom administrative arrest cannot be applied in accordance with this Code, with confiscation of crypto assets and instruments for committing these offenses.