Emurgo – the blockchain’s commercial-focused subsidiary of Cardano – has reportedly forged an alliance with the Uzbekistan government, for setting up a task force, specialized in coming up with regulations. 

Specifically, on January 20th, Emurgo has disclosed the newly formed partnership with the Uzbek authorities, along with Kobea Group &  Infinity Blockchain Holdings, to establish a task force, devoted in coming up with the regulatory framework for security token offerings (STOs) and exchanges (STXs) in the nation. 

Following the announcement of the collaboration, Emurgo and Kobea will also take the advisory role for the infrastructure for crypto-asset banking, blockchain education units, as well as numerous other problems. 

Emurgo will further research the possibility of a 3rd-generation Cardano blockchain system for Uzbekistan, along with finalizing the integration of its blockchain education platform into existing national universities of the country, in an attempt to produce future blockchain professionals. 

Via the STO-enabled traditional equities tokenization, Uzbekistan is putting in efforts to brought upon enhanced transparency and security for the financial industry. 

The partnership has been agreed on not long after Uzbekistan’s National Agency for Project Management put the development of a national digital coin mining pool in a bid, to combine the capabilities of domestic and foreign miners, on a nationwide scale.