The Jogorku Kenesh adopted draft laws on the national digital currency of Kyrgyzstan

Today, 20 March, at the meeting of the Jogorku Kenesh were considered and adopted in the third reading of the draft constitutional law ‘On Amendments to the constitutional Law “On the National Bank of the Kyrgyz Republic” and the draft law “On Amendments to Certain Legislative Acts of the Kyrgyz Republic on the legal status of the national digital currency - digital KGS”.

The bills are aimed at creating a legal framework for the national digital currency ‘digital KGS’ and launching a pilot project to test its prototype. An important aspect of the implementation of these initiatives is the correct choice of the technical platform and the successful completion of the test period.

According to the project, the legal status of the digital currency will depend on the successful completion of the test and pilot stages, as well as the decision to launch the currency in a productive mode. The bills are expected to enter into force on 1 January 2027.