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Changes Made to Certain Cabinet Decisions on Virtual Asset Turnover

Published

01/13/2025, 17:34

Changes Made to Certain Cabinet Decisions on Virtual Asset Turnover

The Cabinet of Ministers of the Kyrgyz Republic approved a resolution aimed at developing the market of virtual assets and protecting the rights of investors. The document, signed by the Chairman of the Cabinet of Ministers Adylbek Kasymaliev, provides for the elimination of gaps in legislation, creating conditions for attracting investment and preventing the use of virtual assets for illegal purposes.

The key changes include strengthening requirements for virtual asset trading operators, updating regulations for exchange operators, as well as adjustments to the rules for issuing virtual assets. In addition, the processes of registration and certification of businesses related to mining have been clarified, which should increase the transparency and security of operations in this area.

The innovations are designed to strengthen confidence in the market of virtual assets and stimulate its development. The Cabinet of Ministers emphasized the importance of creating a balanced regulation that will not only attract investment, but also effectively combat the risks associated with money laundering and terrorist financing.

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