Published
01/20/2026, 16:52President Sadyr Zhaparov signed the Law “On Amendments to the Law ”On Virtual Assets." The law was adopted by the Kyrgyz Parliament on December 4, 2025.
The law was adopted to improve the effectiveness of state regulation in the field of virtual asset service providers, as well as to ensure the stability and transparency of the virtual asset market in Kyrgyzstan.
The law specifies the definition of the term “stablecoin” and adds definitions for such concepts as “real world asset token (RWA token)”, “state mining” and “state cryptocurrency reserve”.
The law stipulates that in order to test the legal regulation of public relations in the field of virtual assets related to the introduction of innovative services/technologies, the president has the right to establish pilot regulation for a certain period in a separate territory of the country within the framework of a special regulatory regime (within the framework of a regulatory sandbox).
It also provides that the authorized body for the implementation of policy and regulation in the field of virtual assets shall carry out licensing and issue permits within the framework of a special regulatory regime in accordance with the objectives and types of activities necessary for its implementation. The license/permit shall have a limited term of validity, shall be registered (non-transferable), and shall not be transferable to third parties.
To obtain a license to operate as a virtual asset service provider, legal entities shall apply to the authorized body for a license.
In addition, the law establishes a rule that persons engaged in mining are required to register in accordance with the procedure established by this law and other regulatory legal acts. Individual entrepreneurs and legal entities that have been registered are entitled to engage in mining from the date of receipt of the certificate.
