The Parliament of Kyrgyzstan at once in three readings approved the bill “On virtual assets”, which regulates the cryptocurrency market in the country. This is reported by local media.
The document introduces the determination of the main types of assets, in particular, highlighting the stablecoins and tokens of RWA secured with fiat.
The president received the authority to establish the rules for the release, circulation and regulation of cryptocurrencies. For testing innovative services and technologies, regulatory “sandboxes” are introduced.
It also provides for the creation of a state reserve of cryptocurrency and the launch of mining using state infrastructure and resources. Participants in the process must be registered and comply with equipment requirements.
Supervision of the cryptot is distributed between the two authorized bodies: one will issue licenses to suppliers of virtual assets services, the other will control compliance with requirements, including measures to combat money laundering and financing of terrorism.
Earlier, Kyrgyzstan announced the launch of the Golden Steabelcoin USDKG in the III quarter of 2025. The coin will be tied to the US dollar in a ratio of 1: 1 and is provided with a gold margin of $ 500 million.
Recall that in April, the founder of Binance Chanpeng Zhao became a consultant to the Kyrgyz government on cryptocurrency and blockchain issues. Among his proposals to President Sadir Zhaparov is to include bitcoin and BNB in the national crypto -cutter.
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Source: Cryptocurrency
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