Draft:Dmitry Li

"Draft:"

Dmitry Li
Director of the National Agency for Perspective Projects
Incumbent
Assumed office April 2022
Preceded by	Position established
Personal details
Born	Dmitry Romanovich Li
Nationality	Uzbekistani
Occupation	Government official
Known for	Cryptocurrency regulation, digital economy

Dmitry Romanovich Li is an Uzbekistani government official of Korean descent. Since April 2022, he has served as the Director of the National Agency for Perspective Projects (NAPP) of Uzbekistan. Prior to this, he was the Director of the National Agency of Project Management (NAPM) from 2019 to 2022. Li has played a key role in the regulation of cryptocurrency and digital markets in Uzbekistan.

Career

Li began his career in the public education sector before moving into leadership roles in the machinery and metallurgy industries. From 2017 to 2019, he served as the First Deputy Director of the National Agency of Project Management (NAPM) under the President of Uzbekistan. In January 2019, he was promoted to Director of NAPM.

In April 2022, he was appointed Director of the newly created NAPP.

Previously, he was the director of the National Project Management Agency (NPMA) under the President of Uzbekistan from 2019 to 2022. He began his career in public education and later held various senior positions in engineering and metallurgy. From 2017 to 2019, he served as the First Deputy Director of NPMA.

Li played a key role in the development of Uzbekistan’s cryptocurrency infrastructure. In 2018, NAPP under his leadership signed an agreement with the Korea Blockchain Enterprise Promotion Association (KOBEA), which led to the establishment of the UzNex cryptocurrency exchange. In 2023, KOBEA's license was extended indefinitely, effectively granting UzNex a monopoly in Uzbekistan’s crypto market.

His tenure, however, has not been without controversy. In 2024, Li became the subject of an investigation over alleged fraudulent operations involving Russian payment systems and money laundering through sanctioned entities. Over $30 million was reportedly frozen in banks such as Kapitalbank, Ipak Yuli Bank, and Ravnaq Bank (Octobank), with connections traced to the UzNex exchange.

In October 2024, Li was also one of the apparent targets of a failed assassination attempt, along with Komil Allamjonov, the former head of the Presidential Administration’s Information Department. Interpol warrants were issued for two Russian nationals of Chechen origin suspected of involvement.

Apart from his government work, Dmitry Li also heads the Chess Federation of Uzbekistan.

Digital Economy and Crypto Regulation

Under Li’s leadership, NAPP pioneered the regulation of cryptocurrencies in Uzbekistan. In 2020, the agency granted a license to the South Korean company KOBEA to launch the UzNEX exchange. The move effectively gave UzNEX a monopoly and was accompanied by a ban on foreign exchanges operating in the country without local servers and data storage.

In 2023, NAPP extended its regulatory scope to include capital markets, insurance, e-commerce, lotteries, and gambling activities.

As head of the National Agency for Perspective Projects (NAPP), Dmitry Li has played a pivotal role in shaping Uzbekistan’s digital economy and cryptocurrency policy. Under his leadership, the government has taken significant steps to regulate the use of digital assets while encouraging innovation.

In 2022, Uzbekistan introduced a comprehensive legal framework for digital assets, appointing NAPP as the principal regulatory body. The framework recognizes the legality of cryptocurrencies and permits their circulation only through licensed Virtual Asset Service Providers (VASPs). NAPP is responsible for licensing exchanges, enforcing data localization policies, and overseeing compliance.

Li oversaw Uzbekistan’s strategic partnership with the Korea Blockchain Enterprise Promotion Association (KOBEA), which was granted an unlimited license to operate the country’s only cryptocurrency exchange, UzNex.

In 2023, NAPP signed a Memorandum of Understanding with the stablecoin company Tether, aiming to strengthen blockchain infrastructure, foster asset tokenization, and improve digital payments within Uzbekistan. The agreement also focuses on blockchain education and workforce training.

However, Li's tenure has been marked by controversy. In 2024, investigative reports linked NAPP to suspected financial misconduct involving the laundering of funds through sanctioned Russian networks. Over $30 million was reportedly frozen in accounts at Kapitalbank, Ipak Yuli Bank, and Ravnaq Bank (Octobank), with connections to UzNex.

In October 2024, Li was reportedly the target of an assassination attempt alongside presidential advisor Komil Allamjonov. The incident drew attention to internal security risks and led to Interpol warrants for two Russian suspects of Chechen origin.

Controversies

Fraud Allegations

In 2023, Li was named in investigative reports suggesting involvement in financial schemes linked to sanctioned Russian officials and the Octobank scandal.

Alleged Assassination Plot

In October 2024, Uzbek authorities reported that both Dmitry Li and Komil Allamjonov were targeted in a foiled assassination plot involving two Russian nationals. The suspects allegedly were promised $1.5 million.

The trial was held behind closed doors, raising concerns among international observers. Human rights advocate Radha Stirling questioned the credibility of the case, suggesting it may have been politically motivated or exaggerated.

Personal Life

Li has chaired the Chess Federation of Uzbekistan since June 2018, promoting the sport nationally.