The National Agency for Prospective Projects (NAPP) has approved a series of amendments to the regulations governing the special legal regime — commonly known as the "Capital Market Regulatory Sandbox".

Amendments to "Capital Market Regulatory Sandbox":

The time limit on the sandbox has been lifted, making the special regime indefinite.

Uzbek resident legal entities can now join the sandbox alongside foreign companies.

The Central Securities Depository and Tashkent Stock Exchange may now operate within the sandbox without registering as formal participants.

Foreign securities will be admitted to the domestic market within the sandbox, with defined requirements for trading platforms and investment intermediaries
 

New instruments and operations allowed in "Capital Market Regulatory Sandbox":

— depositary receipts on local issuers' securities

— foreign currency corporate bonds issued by residents

— custodial and nominee holder services for local issuers and investment funds

— FOP (Free of Payment) securities transfers without tax consequences

— nominee holders exercising shareholder rights without a power of attorney

About "Capital Market Regulatory Sandbox" participants you can read here.