[3] In October 2019, the Capital Market Development Agency of the Republic of Uzbekistan (CMDA was created in 2019 and liquidated in 2021) reissued the license for the RSE.

Historically, securities market of Uzbekistan formed due to the massive privatization in the 1990s of state owned enterprises after collapse of Soviet Union and gaining independence from Moscow.

As a result, there were no extremely wealthy business magnates so called "oligarchs" in Uzbekistan, while number of shareholders exceeded 1.2 million.

Starting from September 2023 the capital market in Uzbekistan is regulated by the National Agency of Perspective Projects (NAPP) of the Republic of Uzbekistan, which is a state body responsible for regulation, licensing, and permitting procedures in the sphere of crypto-assets turnover, capital market, insurance, e-commerce, lotteries and gambling activities.

There is also an SRO of professional participants of the uzbek capital market - National Association of Investment Institutions (NAII), established in January 2021.