Published
05/18/2026, 16:17Kyrgyzstan plans to update the Ministry of Finance’s regulations governing the precious metals and gemstones sector. A draft resolution by the Cabinet of Ministers has been released for public comment through June 2.
According to the document, the Ministry of Finance will officially approve new regulations for the Department of Precious Metals. The department will be responsible for regulating the production, processing, circulation, and accounting of precious metals and gemstones, as well as for overseeing the State Fund’s assets and state reserves of precious metals.
At the same time, some of these functions have already been transferred to the State Tax Service. These include oversight of the production and circulation of jewelry, assay supervision, gemstone appraisal, and the hallmarking of jewelry.
As explained in the accompanying documents, these changes are necessary to eliminate overlapping authorities among government agencies and bring legislation into line with new presidential decrees and EAEU regulations.
In addition, the draft provides for the expansion of the functions of the Precious Metals Department. Specifically, this involves the introduction of digital tools for the accounting and circulation of precious metals, including so-called “digital gold,” as well as the creation of information systems and market monitoring.
The government also intends to maintain the mechanism for supplying domestic jewelers with raw materials from the State Fund. To this end, the Department will continue to purchase precious metals, gemstones, and scrap from market participants. This is expected to support the country’s jewelry industry.
