REGULATORY ASPECTS OF DIGITAL FINANCE: EU EXPERIENCE AND PROSPECTS FOR UZBEKISTAN

Regulation of digital fnance can balance innovation and stability. MiCA, PSD2, and AMLD bring greatertransparency and competitiveness to the EU marketplace. Uzbekistan's structure is still nascent, existing in fragmentationand with limited integration along global lines. Implementing unifed regulations, transaction monitoring, and open bankingwill expedite the process. Incorporating EU-style licensing, regulatory sandboxes, and public-private partnerships willspur growth. Uzbekistan will establish a sustainable digital fnance ecosystem with a flexible regulatory approach.