The state-owned cryptocurrency exchange Coin Nomad Exchange is in the final stages of launch

The process of launching a state-owned cryptocurrency exchange continues in Kyrgyzstan. The Financial Supervision Authority informed Akchabar about the re-registration of the licence for virtual asset trading operations for Coin Nomad Exchange OJSC.

The company has completed its re-registration with the Ministry of Justice and received an updated licence on 24 June. It previously operated under the name Coin National Exchange, having been licensed since January this year.

According to the regulator, the exchange has passed all the official approvals required by law and implemented internal control procedures. These include customer verification, risk monitoring, blocking suspicious transactions, and transferring data to the financial intelligence agency.

Thus, the state crypto exchange project has reached the final stage of organisational formalisation. The next step will be the practical launch of trading operations.

We would like to add that, according to data from the Open Budget portal, the company has paid 349,400 KGS to the budget to date. The largest payment in July was 300,000 soms in income tax.