The virtual assets sector transferred over 2 billion KGS in taxes to the budget

Government agencies continue to record growth in activity in the virtual asset sector. According to data from relevant regulators, 185 licences have been issued to virtual asset exchange operators, 13 licences to trading operators, and 10 certificates for mining activities in the republic.

For comparison, in 2024, there were 129 crypto exchanges and 8 exchanges in the country. The growth in the number of participants is evident, but it is disproportionate to the financial results.

According to reports, the total turnover of virtual asset service providers reached 1 trillion 784.18 billion KGS, although for the whole of 2024 it amounted to 587.3 billion KGS. Tax revenues from market participants became an important indicator.

Virtual asset service providers and mining companies paid 2 billion 41.7 million KGS in taxes to the budget. This is almost nine times more than for the whole of 2024, when virtual asset service providers transferred 125 million KGS in taxes to the treasury, and miners — 102 million KGS. These figures demonstrate the sector's growing contribution to the country's economy and its importance in generating budget revenues.

According to an official statement by Sadyr Zhaparov, there are two mining farms operating in Kyrgyzstan, both of which are currently suspended for political reasons.