The measures will also affect those who disguise themselves as advertisements or charitable initiatives
The Ministry of Economy and Commerce has proposed to prohibit access to websites and social media accounts that organize prize draws, cash giveaways, or real estate lotteries. This draft law is currently being discussed on public platforms.
The ministry notes that there is a rise in illegal lottery activities and binary options operations, which are often hidden under the guise of advertising campaigns or charitable initiatives. Citizens are lured in with promises of winning significant sums of money, valuable prizes, and even cars; however, such events violate current legislation.
In light of the identified risks, the ministry proposes to implement additional measures to enhance state control, combat illegal practices, and improve the financial literacy of the population. Possible sanctions include fines ranging from 50,000 to 100,000 soms and prison sentences from 3 to 5 years.
Telecommunications operators and internet providers will be required to restrict access to such resources within 24 hours after receiving a notification with a court decision.
Banks, financial organizations, and virtual asset service providers will also need to block transactions related to binary options activities and report relevant information to financial intelligence.
It is important to note that these restrictions will not apply to promotional lotteries.
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